DeLauro Praises President for Support of National Infrastructure Bank

Washington, DC— Congresswoman Rosa DeLauro (CT-03) praised President Obama's support of a national infrastructure bank during his remarks in Florida today.

The president stated that he hopes to create a national infrastructure bank, an objective entity aiming to depoliticize the process, and that can take a merit-based approach towards infrastructure project funding. Such a bank would create jobs, improve our infrastructure through a competitive process, and spur economic growth to keep our nation competitive in the 21st century.

Congresswoman DeLauro has introduced legislation mirroring these goals called the National Infrastructure Development Bank Act, H.R. 2521. The bill would establish a bank defined as an independent entity that would leverage private dollars to invest in transportation, environment, telecommunications, and energy projects of merit.

Endorsement of this legislation include: American Council of Engineering Companies, American Society of Civil Engineers, Associated General Contractors of America, Building and Construction Trades Department (AFL-CIO), Building America's Future, Campaign for America's Future, Construction Management Association of America, National Construction Alliance II, National Governors Association, PolicyLink, Service Employees International Union, Third Way, Transportation for America and the U.S. Chamber of Commerce.

Congresswoman DeLauro said, "I commend the President for his vision of the future of infrastructure in this country, and I hope to see his support backed up with a properly capitalized independent bank covering a range of infrastructure in the budget. Given the state of the economy today, our focus needs to be on putting people back to work and laying the foundation for new jobs. A national infrastructure bank would do this, and we not only owe it to the workers and families struggling through this recession, but to future generations as well."