Sens. Propose $10B Bank To Fund Infrastructure

Law360, New York (March 15, 2011, 5:17 PM EDT) -- Sens. John Kerry, D-Mass., Mark Warner, D-Va., and Kay Bailey Hutchison, R-Texas, said Tuesday that they would introduce legislation to create a national infrastructure bank with a $10 billion revolving loan fund.

The Build Act would appropriate $10 billion plus administrative costs to a new bank called the American Infrastructure Financing Authority, the senators said in a statement. The AIFA would provide loans and loan guarantees for bridges, roads, railroads and other large public projects to states and municipalities, they said.

The senators estimated the federal...
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