Monday, August 13, 2007
Rebuilding America's Infrastructure Act Introduced in House
The Rebuilding America's Infrastructure Act (H.R.3400) has been introduced in the House of Representatives. The bill would create a Federal Bank for Infrastructure Modernization. The bank would have a goal to loan $50 billion annually over the next 10 years to states, tribes and local governments to improve a variety of infrastructure. The loans would bear no interest. Though a wide variety of infrastructure could be funded, at least 20 percent of the loans would be for schools and other public education facilities. Buy America Act and Davis-Bacon Act requirements would apply to funded projects.