A comment by Senator John Thune (SD) in The Hill article below is key to understanding the rural impact of this proposal. “Sen. John Thune (R-S.D.) has urged caution in going forward with an infrastructure bank, arguing that it would likely benefit large cities and leave out rural areas.” While an infrastructure bank may have beneficial impacts in urban areas, without a new revenue source, it will commit future revenue to debt service.
What is proposed for rural America? The Ports-to-Plains Alliance continues to ask that question. Have you asked your U.S. Representative and Senators? Why not come with us to Washington DC on May 3-5, 2011 and help us ask that question?
The Ports-to-Plains Alliance is asking the Ports-to-Plains Caucus to sign on to a letter to the appropriate Congressional committees addressing this question. Your involvement is important. After reauthorization, it will be too late.
Kerry to introduce bipartisan infrastructure bank bill
Click here for complete article > The Hill (Transp. Report Blog)
March 14, 2011
Democratic Sen. John Kerry (Mass.) will introduce bipartisan legislation later this week to create a federal infrastructure bank to fund projects around the nation, an aide told The Hill.
Kerry has at least one Republican senator backing the initiative. As proposed, the American Infrastructure Financing Authority would initially cost about $10 billion and provide loans and loan guarantees for large infrastructure projects…
Kay Bailey Hutchison, John Kerry to join to propose national infrastructure bank
Click here for complete article > Dallas Morning News
March 15, 2011
Texas Sen. Kay Bailey Hutchison, teaming with Democratic Sen. John Kerry, will announce Tuesday a push to create a national infrastructure bank that would provide billions in funding for bridges, mass transit and other big ticket public works projects.
Aides to Hutchison, a Republican, said it will help close Americas widening infrastructure gap, create millions of jobs in the next decade, and strengthen Americas global competitiveness in the 21st century.
The new entity, dubbed the American Infrastructure Bank, would offer financing through loans and loan guarantees. Funding would initially come from tax coffers, with the hope that the bank eventually becomes self-sustaining as its investments are repaid…