Infrastructure Development Bank Act Introduced

[Katy Schneider]

The National Infrastructure Development Bank Act of 2009 (HR 2521) would establish a National Infrastructure Development Bank, modeled after the European Investment Bank, which would leverage private sector funds to invest in transportation, environmental, energy and telecommunications infrastructure projects. The Bank would objectively consider the economic, environmental, social benefits and costs of infrastructure projects, as well as other specific criteria, and fund projects of significance. The Bank would provide investment opportunities that would supplement current federal programs creating jobs, spurring economic growth and rebuilding an infrastructure system for the 21st century.

For a more information on the specific provisions of the act, please see the attached summary.

[Jason Jordan]

In Monday's New York Times, columnist Bob Herbert writes about the National Infrastructure Development Bank proposal in a column focused on our "crumbling" infrastructure and the link between investment and economic recovery.

[Jon Barsanti]

So we need $2.2 Trillion in infrastructure spending over 5 years and have a commitment of $0.25 Trillion over the next 5 years, if I am reading the summary correctly. Where do we find the other 2 trillion dollars? (The last lines of the document relay $625 Billion in funding - so what do we do regarding the other 1.6 Trillion dollars? - And it expires after 15 years!