This is a really good idea. Bob Herbert wrote an article about this a few days ago:
The Master Key<...>
Senator Kerry will introduce legislation next week to create a federal infrastructure bank — officially, the American Infrastructure Financing Authority — to provide loans and loan guarantees to large, essential infrastructure projects. The loans will be seed money used to leverage other sources of funding.
“These are strictly loans — not grants — for commercially viable projects,” the senator said. “The federal government does no more than 50 percent of the loan. We expect that to leverage $600 billion or so in infrastructure investments over time.”
Mr. Kerry said the initial cost to the government would be $10 billion. Other proposals to establish an infrastructure bank have been more ambitious and more expensive. Senator Kerry is anticipating — or, at least, hoping for — bipartisan support and a nod from the Obama administration for this more modest initiative.
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Creation of an infrastructure bank would be an important indication that leaders in Washington are still capable, despite most of the available evidence, of moving beyond partisan paralysis to engage one of the biggest challenges facing the country. If there is such a thing as a master key to a better American future, investment in the nation’s infrastructure would be it. That is the biggest potential source of jobs. That is how you build the foundation for new and innovative industries.
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