Rep. DeLauro’s bill would help communities overcome financial hurdles of investments
WASHINGTON, DC (May 27, 2014) – In a show of broad national support for addressing the shortfalls in our infrastructure systems—including transportation, the electrical grid, wastewater and communications systems—the BlueGreen Alliance and Congresswoman Rosa DeLauro (D-CT) today announced over 100 House members have become co-sponsors of the National Infrastructure Development Bank Act.
“We have reached a tipping point when it comes to our national infrastructure,” said DeLauro, who has been advocating a National Infrastructure Bank since 1994. “We must capitalize on the private dollars available in order to build 21st century infrastructure systems all the while putting people to work and making communities safer. I want to thank my colleagues who have announced their support for this legislation. We will get this done.”
H.R. 2553, the National Infrastructure Development Bank Act, would help to close the investment gap by leveraging private investment to modernize and upgrade vital infrastructure systems. The legislation would create a national infrastructure bank in order to create a self-sustaining entity that would direct loans, loan guarantees and more to communities that might not otherwise be able to make bridges safer or expand electrical grid capacity, for example.
“From coast-to-coast lawmakers are recognizing that breaking and crumbling infrastructure systems are holding us back from reaching our full potential for economic growth and job creation,” said David Foster, Executive Director of the BlueGreen Alliance. “The National Infrastructure Development Bank could change that. We applaud Congresswoman DeLauro for tirelessly advocating the creation of this infrastructure bank and the other lawmakers who have signed onto the bill for recognizing the needs it can help us meet.”
According to a report by the American Society of Civil Engineers (ASCE) more and more communities are burdened by the need for these repairs—evidenced by the organization’s overall “D+” rating for the state of America’s infrastructure.
In addition to the over 100 lawmakers calling for the repairs and upgrades that will allow us to be globally competitive, reduce pollution, create jobs and more, national labor and environmental members across the country are echoing this need including the United Steelworkers, Sierra Club, Natural Resources Defense Council, Utility Workers Union of America, and Communications Workers of America.
The legislation is part of the BlueGreen Alliance’s Repair America campaign to address the causes of climate change and repair the systems we rely on every day to supply power, keep us safe from floods and more.