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Faso rewrites Obama idea for infrastructure spending

Jan 24, 2018 3:10 pm
While the U.S. House of Representatives is out this week after voting to keep the government open, Rep. John Faso (R-Kinderhook) is still busy outside his home district, writing an opinion article in the conservative Washington Examiner online journal. Faso writes about the need for infrastructure spending in the United States. "The need is at least $5 trillion over the next ten years to bring our infrastructure rating from a 'D' to a 'B,' according to the experts," Faso writes. But, "Neither the federal government nor the States have the funding or borrowing capacity to foot the entire bill." Instead, Faso wants a private entity to spend the money. "I have introduced legislation that could fund $1 trillion worth of investment in roads, bridges, airports, and much more by spending very few taxpayer dollars. The bill, The Infrastructure Bank for America Act of 2017 (H. R. 3977), will establish a federally chartered bank to invest in infrastructure projects throughout the country," he writes. President Barack Obama proposed a similar plan, but Faso does not want our elected representatives picking who serves on the bank, but "board members are elected by shareholders of the bank." Read his entire opinion article in the Washington Examiner.