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Raja Krishnamoorthi on Technology

 

 


Modernize transportation with federal infrastructure bank

Our nation is falling behind in maintaining and modernizing our transportation network, which hurts our economy and our ability to compete in the world. The problem is even worse in Illinois, where the budget deadlock in Springfield is preventing investment in capital projects that could strengthen our state's economy.

This is why Raja is proposing to create a federal infrastructure bank. Such a bank could provide low-interest loans to states and cities to help finance crucial projects like roads and transit system. It's a way around the politics that is paralyzing important local and national goals.

Raja would finance the infrastructure bank by ending the oil depletion allowance--a tax break for the oil industry that would save more than $10 billion over the next ten years. That amount could generate close to $100 billion in capital for infrastructure projects around the country. Once capitalized, the bank would be self-perpetuating as its loans are repaid.

Source: 2016 Illinois House campaign website RajaForCongress.com , Nov 8, 2016

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Page last updated: Jul 01, 2017