National Infrastructure Bank Finds a New Champion

The Senate now has a champion for legislation to create a National Infrastructure Bank.  In an announcement about his leadership on the issue, Sen. Mark Warner (D-VA) called on unions, contractors, and state and local governments to join him in promoting the issue and securing more support in the Senate.  He specifically targeted the AFL-CIO and the Chamber of Commerce. The proposal would authorize funding for major, large-scale infrastructure projects, like roads, bridges, and water infrastructure.  It would closely mirror previous legislation that had been championed by former Sens. John Kerry (D-MA) and Kay Bailey Hutchison (R-TX).  Sen. Warner’s strategy intends to have the bill included in the reauthorization of MAP-21, the current surface transportation bill, which expires in 2014. He feels that the future of transportation funding will be grounded in alternative financing, which may include proposals such as tolling and public-private partnerships.  The new bill is expected to include $10 billion of initial federal investment so that the infrastructure bank may  issue loans and loan guarantees and he is expected to release a draft bill in February.