America has been overdue for some critical repairs and very much needed advancements for a while now.
According to Citrus County Chronicle, The Bank, structured similarly to the Federal Home Loan Bank System, encourages private investment through tax incentives for those investments during the first three years of IBA operation. This approach differs from prior Infrastructure Bank proposals in that it will be entirely capitalized by private investment. Infrastructure banks have already successfully complemented existing funding programs across the world, including U.S. state infrastructure banks.
IBA investments would not be overly restrictive by project type and can help finance surface transportation projects, ports, electric grid security, broadband connectivity, and the revitalization of Main Street USA. The IBA will set aside a minimum of seven percent of the dollar amount of loans and loan guarantees to rural areas for rural infrastructure projects.