Infrastructure bank to get a House hearing

{mosads} “This hearing will
focus on questions relating to the estimated $270 million yearlong
process of creating another federally backed agency designed to pick
project winners and losers,” Mica continued. “A more positive approach would be to build on the 33 existing state
infrastructure banks which lack financial backing but are in place, can
get projects selected and moving and put people to work on an expedited
basis.”

The federal infrastructure bank proposal has been been pushed in the Senate by Sens. John Kerry (D-Mass.) and Kay Bailey Hutchison (R-Texas).

The proposal is joined by $50 billion in direct spending on transportation that is included in Obama’s jobs proposal.  

The Transportation Committee’s hearing on the infrastructure bank proposal will take place Oct. 12.