Sen. Kerry sees progress on his bill for an infrastructure bank

The Hill reports:

Sen. John Kerry (D-Mass.) is hopeful that his bill to create a National Infrastructure Bank will move through the Senate this year.

The bill could be the best shot for those seeking to boost transportation, energy and water infrastructure investment in a Congress focused on “rapacious” spending cuts, Kerry said.

The Kerry bill, co-sponsored by Sens. Mark Warner (D-Va.), Kay Bailey Hutchison (R-Texas) and Lindsey Graham (R-S.C.), would create an independent, nonprofit bank that would leverage private investment into infrastructure projects. The bill was introduced in March.

A slush fund so immense that the AFL-CIO and the Chamber of Commerce can both agree on. This is rent-seeking out of control. When you hear "infrastructure bank" from a government official ,this means those who can't get market based financing because what they are promoting is a bad risk.