Kerry has hopes for progress of infrastructure-bank bill
Sen. John Kerry (D-Mass.) is hopeful that his bill to create a National Infrastructure Bank will move through the Senate this year.
The bill could be the best shot for those seeking to boost transportation, energy and water infrastructure investment in a Congress focused on “rapacious” spending cuts, Kerry said.
The Kerry bill, co-sponsored by Sens. Mark Warner (D-Va.), Kay Bailey Hutchison (R-Texas) and Lindsey Graham (R-S.C.), would create an independent, nonprofit bank that would leverage private investment into infrastructure projects. The bill was introduced in March.
Kerry told The Hill after a Capitol Hill event on the topic that Senate Finance Committee Chairman Max Baucus (D-Mont.) is supportive of the legislation, though he has some questions. Kerry said he is working through those issues with Baucus en route to a Finance markup of the bill.
He said he does not see any special-interest opposition to the legislation at this point, and noted that it is backed by both the AFL-CIO and the U.S. Chamber of Commerce, which are rarely on the same side of an issue.
Business Roundtable President John Engler made a pitch for the bank at the event, as did AFL-CIO Deputy Chief of Staff Thea Lee, who said the bill should include Buy America provisions.
Kerry also said that Sen. Kent Conrad (D-N.D.) has included the plan in the still-secret draft Senate budget resolution. The bank would cost $10 billion, he said.
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