A handful of Washington insiders argue that while Obama is calling for the creation of a national infrastructure bank, there is already such an entity in existence and ready to assume the role.
The bank in question is the Export-Import Bank of the United States, which is "...a self-funded government corporation that carries the full faith and credit of the United States, has been financing multibillion-dollar infrastructure projects and creating American jobs for more than 75 years. Why haven't you heard of the bank? Because it finances these projects in Jakarta, Santo Domingo and Sofia, instead of in Chicago, Dallas and Boston."
The group (including former senator Evan Bayh) say the Ex-Im Bank (as its known) is highly reliable and could easily shift to funding programs here at home instead of only abroad.
FULL STORY: We already have the infrastructure bank we need
How to Turn $10 billion into $300 Billion: Create an Infrastructure Bank
It's certainly not a new idea - what's new is the current bipartisan Senate bill, cutely abbreviated as the BRIDGE Act, seeded with $10 billion of federal funds that would attract funds from the private sector to be loaned to worthy projects.
Minnesota Gubernatorial Candidate Campaigned on Increasing the Gas Tax and Wins
Democratic candidate Tim Walz was not shy about his intention to hike the gas tax to pay for improvements for roads and public transit, and he was predictably slammed by his Republican opponent. Similar scenarios played out in Wisconsin and Michigan.
Sound Transit, Feds Agree to Low Interest Rates on $2 Billion in Transportation Funding
If getting low interest rates from the federal government on money borrowed to finance transportation projects sounds like a national infrastructure bank, you're on the right track.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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