Senators Propose $5 Billion DOT Infrastructure Fund

Senators Propose $5 Billion DOT Infrastructure Fund

Leaders of the Senate Commerce Committee are proposing a $5 billion national infrastructure fund that would encourage private investment in transportation infrastructure through loans, loan guarantees and grants.

The American Infrastructure Investment Fund Act of 2011 calls for the infrastructure fund to be set up within the Department of Transportation, although the program could be extended to include telecommunications, water resources and energy projects, according to Chairman Jay Rockefeller IV, D-W.V., and Sen. Frank Lautenberg, D-N.J.

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The bill authorizes $5 billion for the new fund in fiscal 2012 and 2013, and establishes investment grants for DOT projects to restore or build new transportation infrastructure.

In March, Sen. John Kerry, D-Mass., filed legislation to create an independent national transportation authority with a $10 billion capitalization to leverage transportation, energy, water and telecommunication.
 

--Contact R.G. Edmonson at bedmonson@joc.com.