DeLauro Introduces National Infrastructure Development Bank Act

Public-Private Partnership Would Create Jobs and Bolster the Economy

WASHINGTON, DC—Congresswoman Rosa DeLauro (D-CT) announced today that she is reintroducing the National Infrastructure Development Bank Act. The bill would create and fund a public bank to leverage public and private dollars for meritorious infrastructure projects of national or regional significance.

“With limited money, innovative financing solutions are crucial to funding critical infrastructure projects, which in turn create good middle class jobs and provide an economic spark that better enables America to compete with other economic power centers around the globe,” DeLauro said. “An infrastructure bank would help us expand and enhance our existing infrastructure, and make the critical investments needed to compete at the highest levels of the global economy. Now is the time to invest in our nation, building better infrastructure systems and a stronger economy. I look forward to working with my colleagues and the President to make this bank a reality.”

The National Infrastructure Bank would invest in transportation, environmental, energy and telecommunications projects. The Bank would consider each project’s economic, environmental, social benefits, and costs objectively before selecting projects to finance. It 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 investment opportunities will create jobs, support businesses spur economic growth, and help build key infrastructure for the future.

DeLauro has been advocating for a National Infrastructure Bank since 1994. She announced the bill’s reintroduction at SeeClickFix, a New Haven company that would benefit from the ultra-high speed broadband network Connecticut leaders are currently trying to bring to the state. This broadband infrastructure would be eligible for funding through the infrastructure bank established by DeLauro’s bill.

Connecticut Comptroller Kevin Lembo, who joined DeLauro at today’s event, said: "This proposal – to establish a National Infrastructure Bank – speaks directly to our needs and priorities as a state. Infrastructure development, whether it’s rails, roads or ultra-high-speed, low-cost Internet, is the ultimate economic development incentive for businesses.

“A National Infrastructure Bank would provide a mechanism to make these projects a reality in the most fiscally smart and efficient way. I’m grateful for Congresswoman DeLauro’s leadership on this – and for the collaborative leadership involving both municipal and state leaders that continues to drive Connecticut’s gigabit initiative.”


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