Senators Propose Infrastructure Bank Measure

A bipartisan group of U.S. senators led by Sen. Mark Warner (D-Va.) introduced legislation to create a $10 billion infrastructure bank that would use loans and loan guarantees to encourage private investment in transportation projects.

Warner introduced the measure this month with Sen. Roy Blunt (R-Mo.). It would establish an independent infrastructure financing authority to select projects for funding, and projects would have to show a “clear public benefit,” cost at least $50 million and be deemed of national or regional significance to qualify.

The authority would be a government-owned entity led by a CEO and a seven-member board, which would have final approval on projects. No more than four members could be from the same political party.