Infrastructure Bank Act Introduced

Representative Rosa DeLauro (D-CT) has introduced the National Infrastructure Bank Act (H.R. 2553) along with over 60 cosponsors.  According to her press release, the bill would create and fund a public bank to leverage public and private dollars for meritorious infrastructure projects of national or regional significance.  The Bank would invest in transportation, environmental, energy and telecommunications projects.  Rep. DeLauro specifically mentions the $1.4 billion in drinking water needs in Connecticut as part of her justification for the Infrastructure Bank.  The Bank would supplement other federal infrastructure programs by providing loans, loan guarantees and proceeds from bond issuances for projects, and make payments to help states and localities cover their bond interest payments.  These details are according to the Representative’s initial announcement but the bill language is not yet available. Other industry media reports indicate the Bank would be funded through a $25 Billion government authorization but be self-supporting from repayment revenues.

Rep. DeLauro has introduced Infrastructure Bank legislation in prior years and she notes that the President has also called for establishment of an Infrastructure Bank in his State of the Union address.  Some additional information is available on Rep. DeLauro’s website.