Future Infrastructure budget cuts are inevitable – We must locate other means of investment to rebuild and innovate
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- The bank is USFG owned
- The National Infrastructure Bank is an investment.
- Substantial Increase
- Congressman Ellison proves the plan is significant
- A national infrastructure bank IS the topic.
TopicalityUSFG Investment IncreaseNIB is a government investment increaseFelix G. Rohatyn 2008, Co-Chair on the Commission on Public Infrastructure, Speech delivered to the U.S. Senate Banking Committee Senator Christopher Dodd, Chairman March 11, 2008 As you know, Mr. Chairman, our commission proposed a new type of government effort to spur the rebuilding of public infrastructure—a National Infrastructure Bank that will refocus our national infrastructure policy on those projects that generate the most significant returns. Such a new facility would allow us to treat the renewal of our country’s roads and bridges, schools and water lines, airports and air traffic control systems, ports and water projects, as investments, and not simply as budget expenditures. Our Commission’s recommendation would create a federal entity that will more effectively finance infrastructure projects of substantial national or regional significance using public and private capital. The National Infrastructure Bank Act that you and Senator Hagel have authored could do exactly that, and we strongly urge its passage. The bank is USFG ownedCongressman Keith Ellison 2009, D-Minn United States House of Representatives, The Brookings Institution, The Bernard L. Schwartz Forum on US competitiveness infrastructure investments, economic growth and jobs, Thursday, December 10, 2009 And so this is modeled after the European Investment Bank and other development banks around the world. It would be a wholly-owned government corporation that would have the authority to issue new public-benefit bonds to finance loans and loan guarantees for regionally and nationally significant infrastructure projects. It would also provide a secondary market, a liquidity, for purchasing infrastructure-related securities. The National Infrastructure Bank is an investment.The European Institution 2011 The European Institution. "Time for a U.S. Infrastructure Bank"" The European Institute. N.p., 13 July 2011. Web. 28 June 2012. "Time for a U.S. Infrastructure Bank" from Politico by Felix G. Rohatyn, banker and former U.S. ambassador to France. The Obama administration is proposing the creation of a U.S. government-run "infrastructure bank" that would consolidate investments to renew America's ageing roads, bridges and ports. Rohatyn notes that the U.S. is falling badly behind Europe and China in infrastructure modernization and says that this new bank would generate private investment in these projects. Infrastructure financing is "an investment rather than an expense" for U.S. competitiveness and quality of life. Recommended by European Affairs. (7/13)
The plan would compliment, not entirely replace status quo infrastructure investmentMallett et. al. 2011, “National Infrastructure Bank: Overview and Current Legislation” William J. Mallett, Specialist in Transportation Policy, Steven Maguire, Specialist in Public Finance, Kevin R. Kosar, Congressional Research Service, December 14. Analyst in American National Government If it were to create a national infrastructure bank, Congress would need to consider the fate of these other programs. One option would be abolish the programs that appear to have the same objectives as the infrastructure bank, such as TIFIA, but keep the programs that are primarily aimed at providing assistance to smaller projects, such as the Wastewater and Drinking Water SRFs and the State Infrastructure Bank program. Another option would be to create the national infrastructure bank as an added mechanism for credit assistance, with the possible duplication o of effort this entails. All existing national infrastructure bank proposals take this latter approach.
SubstantialCongressman Ellison proves the plan is significantCongressman Keith Ellison 2009, D-Minn United States House of Representatives, The Brookings Institution, The Bernard L. Schwartz Forum on US competitiveness infrastructure investments, economic growth and jobs, Thursday, December 10, 2009 And the fact is that the American Society of Civil Engineers has estimated that at least $1.6 trillion gap over the next five years in just maintaining existing infrastructure. We’ve got some investing to do. And with rampant, double-digit unemployment throughout our country, it’s important to note that investing in infrastructure creates jobs at a very high multiplier. Every $1 billion in federal funds invested in infrastructure creates over 47,000 jobs and $6.2 billion in economic activity. This is high-impact stuff. And for these reasons, we need to make a new national commitment to infrastructure in this country. And I want to submit to you that it is a heavy lift. It is a political paradigm shifter. And this is why I’m proud to be able to work with my colleagues, led by Representative DeLauro, in introducing the National Infrastructure Development Bank. As I said, it’s a big lift. It is a change in how we have done infrastructure financing. But the time has come to do it. And it seems like a great time to do it. Because wasn’t it during the Civil War that Abraham Lincoln said we’re going to build an intra continental, intercoastal -- cost-to-coast railway system? Wasn’t it shortly after World War II that President Eisenhower said we’re going to build an interstate highway system? Wasn’t it during the Great Depression that we embarked on rural electrification? When economic times are tough, that might be the best time to do something bold, to do something big, to think beyond the confines of the recent past. So our legislation builds upon the tireless work of Representative DeLauro over the many sessions of Congress, and on a national infrastructure bank proposal that I introduced last Congress with Financial Services Committee Chairman Frank -- and which was a companion bill that Senator Dodd introduced in the Senate. This legislation would create an Infrastructure Development Bank modeled on a European Investment Bank and other development banks around the world. Now, this is truly an American idea, but let me remind you that when President Eisenhower said, “You know, we need an interstate highway system,” he got the idea from across the pond. It was looking at the autobahn, and his assumption that it would be hard-slogging through Germany, but then finding an excellent highway system that made him think, you know, we Effects-TA national infrastructure bank IS the topic.Mallett, Maguire, and Kosar, 2011 William J. Mallett, Specialist in Transportation Policy; Steven Maguire, Specialist in Public Finance; and Kevin R. Kosar, Analyst in American National Government, Congressional Research Service, “National Infrastructure Bank: Overview and Current Legislation” December 14, fas.org/sgp/crs/misc/R42115.pdf The central policy objective of a national infrastructure bank is to increase investment in infrastructure. Greater investment is desired because high-quality, well maintained infrastructure is believed to increase private-sector productivity and improve public health and welfare. The magnitude of the increased productivity, however, is not settled, as empirical analysis does not always support the conjecture that greater infrastructure investment uniformly generates productivity gains.1 The type of infrastructure and the type of investment are critical elements in such an assessment. Directory: files files -> Answer True False 2 points Question 2 files -> Integer programming and game theory files -> 4 Integer Programming files -> Bpa vehicle Window Repair Scenario #1 task: Procure vehicle window relacement. Objective files -> Pop Warner History files -> North Carolina Inclusion Initiative Mapping Where Children with ieps are Being Served Purpose files -> Fall 2013 Spring 2014 Program Data: Standard 1 Exhibit 4d files -> Hanban – asia society confucius classrooms network 2010 request for proposal files -> Northern England’s set-jetting locations Download 1.29 Mb. Share with your friends:
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