Friday, July 3, 2009

Infrastructure bank to focus on transportation projects

Obama pushes ahead with transport fund rescue - Reuters:
July 1, 2009

"...The administration also released details of Obama's vision for a national infrastructure bank, a centerpiece transportation initiative he promised to pursue during his campaign for president that was broadly described in his proposed budget this spring.

The bank would be an independent entity within the Transportation Department and would at first only focus on rail, highway, bridge and waterway projects.

The administration said in the documents that the bank could later include energy, water and telecommunications infrastructure.

In his budget, Obama asked for $2 billion this year and $5 billion next year to establish a bank that would give grants and make loans for projects that cross state lines or combine different modes of transportation."

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