National Infrastructure Bank
Streetsblog Basics
Senators Order Up Tax Cuts With a Side of Infrastructure, Hold the Transit
Congress has already delayed their holiday recess by a week, and members are hoping another delay won't be necessary. Among the yet-unfinished business: an extension of the payroll tax cut. House Speaker John Boehner plans to hold a vote today on his bill, which marries an extension of the payroll tax cut to the controversial Keystone XL pipeline. While expected to sail through the House, such a partisan bill is unlikely to pass the Senate. Enter Senators Claire McCaskill (D-MO) and Susan Collins (R-ME).
December 13, 2011
Two Infrastructure Jobs Bills Die in Senate
Two competing versions of a transportation-related job creation bill went down yesterday in the Senate. The first, the Rebuild America Jobs Act (S.1769), was a Democratic proposal, modeled on President Obama's job creation bill, to invest $50 billion for infrastructure and another $10 billion as seed money to create a new national infrastructure bank.
November 4, 2011
Will New Infrastructure Funding Survive the Demise of Obama’s Jobs Bill?
Tuesday night, the Senate blocked a vote on the president’s jobs plan. As had been forecast, Republicans voted unanimously against the plan, and they weren't alone: Two Democrats joined them – Sens. Jon Tester of Montana and Ben Nelson of Nebraska. Now it's on to Plan B, which involves breaking up the bill into pieces to be voted on separately.
October 13, 2011
Obama Includes Infra Bank in His Jobs Push; Mica Rejects It Out of Hand
Last night, President Obama addressed a joint session of Congress to present his new jobs plan, a bill he’s calling the American Jobs Act. He relied on the well-worn appeal to people’s patriotic competitiveness by pointing out that China is improving its infrastructure while the U.S. is sitting idly by. Without mentioning the dollar figure (psst… it’s $50 billion) he said he’d get construction workers back on the job rebuilding transportation infrastructure and schools:
September 9, 2011
Kerry, Hutchinson, and Warner Introduce New Infrastructure Bank Bill
Sen. John Kerry (D-MA), along with Sen. Kay Bailey Hutchison (R-TX) and Sen. Mark Warner (D-VA), just announced that they’re introducing the BUILD Act today, which would create a national infrastructure bank.
March 15, 2011
Obama Proposes Infra Bank, Livability Grants, Doubling Transit Funds
The White House has released a fact sheet on the transportation provisions in the President's budget [PDF].
February 14, 2011
Would an Infrastructure Bank Have the Power to Reform Transportation?
Our report earlier this week on transportation financing may have left you with a few more questions. We started with a look at TIFIA, which provides credit assistance for infrastructure projects. Many observers see the program as limited by its position inside the DOT and its opaque decision-making process.
December 9, 2010
Why Reformers Should Care How We Pay for Transportation
TIFIAs and TIGERs and NIBs -- oh my! The alphabet soup of infrastructure funding mechanisms can be alienating even to committed transportation advocates. But with the power of the gas tax diminishing and elected officials refusing to raise it, other financing options are taking on increasing importance. If you're interested in reforming our transportation system for the 21st Century, it pays to know the differences between them.
December 6, 2010
Five Reasons Reformers Are Rallying Behind Obama’s Transpo Push
When President Obama announced his push for a long-term transportation bill on Monday, he introduced a report by his Council of Economic Advisors and the Treasury Department analyzing the economic impact of infrastructure investment [PDF]. At face value, the numbers in the president's plan might not look so impressive. It calls for rebuilding 150,000 miles of roads, laying and maintaining 4,000 miles of railways, and the restoration of 150 miles of airport runways.
October 13, 2010
A National Infrastructure Bank: Can the U.S. Learn From Europe?
On Labor Day, President Barack Obama gave a speech in which he pushed for the creation of a National Infrastructure Bank. Legislation that would establish the bank was introduced over the summer in Senate Bill 1926, authored by Chris Dodd of Connecticut and Chuck Hagel of Nebraska. But the idea of an independent financing entity for large infrastructure projects originated in Europe. The European Investment Bank (EIB) was created in 1958 as part of the Treaty of Rome, which started Europe on the path towards economic integration.
October 8, 2010