Last month, Sens. Frank Lautenberg (D-NJ) and Jay Rockefeller (D-WV) introduced S. 387, which would create a $10 billion infrastructure bank known as the American Infrastructure Investment Fund, Bond Buyer reports. Essentially acting as a bigger version of the Transportation Infrastructure Finance Innovation Act (TIFIA) program, the bill would establish an annual $5 billion pool for fiscal years 2014 and 2015, providing loan and loan guarantees for “rail lines, marine ports, pipelines, airports, highways, bridges, public transportation systems, and other transportation-related projects.” President Obama has repeatedly called for “infrastructure banks in his annual budget requests”; however, such measures have failed in the past due to concerns that it would overlap the TIFIA program and because “the mechanics of who would control it and how it would work would be controversial,” the article said. For more, read the full story (subscription required) and the full text of S. 387.
Senators introduce infrastructure bank legislation to fund transportation projects
