Newsroom: Press Releases
Lautenberg & Rockefeller Introduce Bill to Spark Infrastructure Investment, Job CreationLautenberg Press Office, 202-224-3224
Wednesday, May 11, 2011
WASHINGTON, D.C.— Today, U.S. Senator Frank R. Lautenberg (D-N.J.), Chairman of the Commerce Subcommittee on Surface Transportation, and Commerce Committee Chairman John D. (Jay) Rockefeller IV (D-W.Va.) introduced legislation that would use federal investment in transportation infrastructure to create jobs and new opportunities for millions of Americans. The American Infrastructure Investment Fund Act of 2011 would start a $5 billion fund to drive private investment in transportation infrastructure by using a variety of tools, such as loans and loan guarantees, to provide eligible projects financial assistance, thereby incentivizing the private sector to do the same. Senator Lautenberg is
"The United States has not adequately invested in its transportation infrastructure, and we're seeing the results in our crumbling roads and bridges, airport delays, and a rail network that doesn't meet the demands of travelers and businesses," said Senator Lautenberg. "To remain globally competitive and spur economic development, we simply must invest in our transportation systems. This legislation would create an infrastructure fund that leverages federal dollars with private investment, so that America can start breaking ground on transportation projects that will create jobs and help put our economy on the right track."
“America’s transportation infrastructure is a linchpin for economic success and global leadership,” Chairman Rockefeller said. “But in recent years, our infrastructure has deteriorated and is at a breaking point. Our roads are crumbling, our aviation system is overloaded, our passenger rail network is too slow and our maritime infrastructure is not up to the demands of global trade. Our bill offers an investment mechanism to leverage the vast amount of private capital waiting to be put to use and set a new course in order to meet America’s 21st century infrastructure needs and ultimately support American jobs and make our economy stronger.”
Additional information, including a section-by-section summary, bill text and a one page summary, on the American Infrastructure Investment Fund Act of 2011 can be found here.