America’s economic future will hinge on how fast and well we move people, goods, power, ideas. The American Society of Civil Engineers has awarded the nation’s overall infrastructure a grade of D, and there is significant concern that it cannot adequately support future growth. The need to upgrade our infrastructure is clear, but the cost of doing so will be high and the system Congress uses to finance projects is often too political and wasteful. By reforming a politicized system, leveraging private capital, and enhancing funding discipline, a National Infrastructure Bank will support job creating investments that lay a foundation for enduring economic growth. The National Infrastructure Bank would accomplish its mission by using taxpayer funds to leverage private infrastructure investment through loans, guarantees, and other financial tools. Projects would be selected by an independent board based on merit and demonstrated need as determined by criteria including economic benefit, job creation, and sustainability.
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