A bi-partisan group of Senators, led by Sens. Mark Warner (D-Va.) and Roy Blunt (R-Mo.), is moving forward with their own infrastructure bill called the Bridge Act. TheHill staffer Melanie Zanona reports on the bill which would leverage money from the private sector through a newly created investment bank to help upgrade U.S. roads, bridges and other public works
The Bridge Act would use $10 billion in federal dollars, in order to spur about $300 billion worth of total project investment:
The measure would create an independent financing authority to provide loans and other forms of financial assistant to help states fund road, bridge, rail, port, water, sewer and other infrastructure projects.
While the bank would get initial seed funding from the government, it would become self-sustaining over time, bill sponsors said.