Mr. President, tomorrow is also the one-year anniversary of the introduction of the National Infrastructure Bank Act, by Senator Hagel and myself. The legislation has gained twelve co-sponsors over the year. The Infrastructure Bank would establish a unique and powerful public-private partnership to restore our nation’s infrastructure. Using limited Federal resources, it would leverage the significant resources and innovation of the private sector. It would tap the private sector’s financial and intellectual power to meet our nation’s largest and most critical structural needs.
The Banking Committee has held two hearings on the subject of infrastructure and we have heard strong support in favor of the Infrastructure Bank bill. We heard from a number of mayors, representing cities of various sizes from different regions of our country, as well as from individuals with expertise in public and private financing, civil engineering, labor, and business. They were unanimous in voicing compelling support for increased investment in our nation’s infrastructure and for the need to develop and implement alternative ways to finance this critically important investment in our nation’s future.
Some might say that our legislation is “too expensive”, or that “we can’t afford to implement such a policy”. I say we can’t afford not to implement it.
You can read the entire speech on Senator Dodd's website.
Please contact your elected Representatives and Senators to urge the defeat of this undemocratic and unconstitutional bill.
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