Urgent Need for a Private Infrastructure Bank
The Infrastructure Investment and Jobs Act is not enough. Major funds are needed to make the improvements that are necessary. The best way to provide this funding is through a private financial institution.
According to Real Clear Politics, the IIJA is just a down payment. Look at the math. The headline figure is $1.2 trillion, but new spending in the bill totals only $550 billion, with the rest already committed from previous legislation. The American Society of Civil Engineers estimates that the shortfall in the nation’s total needs for surface-transportation infrastructure alone amount to $1.2 trillion through 2029. And even making that investment would bring U.S. infrastructure up to a grade of only “B” – good, but far from exceptional.
