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National Infrastructure Bank is DOA In House

There was an ostensible hearing on President Obama’s plan for a national infrastructure bank yesterday by the House Transportation Committee. We use the word “ostensible” because the chairman of the committee, Rep. John Mica (R-Fla.), had decided prior to the hearings that the plan was not acceptable. “A national infrastructure bank, as proposed . . . is dead on arrival in the House of Representatives. “If you want a recipe to not get people to work, adopt this proposal.”

Democrats fired back by questioning why Mica was holding a subcommittee hearing on the proposal when he had already decided against the plan, according to a report in The Hill. The evidence, according to Rep. Eddie Bernice Johnson (D-Texas) was in the very name of the hearing: “National Infrastructure Bank: More Bureaucracy and More Rep Tape.”

The infrastructure bank is a key component of Obama’s jobs package, which was voted down in the Senate on Tuesday. It is not dead however because Democrats are moving ahead to try to push through specific aspects of the jobs bill, including the infrastructure bank, which would have a $10 billion investment towards a national fund for transportation projects. Advocates say the money would be used to lure investment in public-private partnerships that are increasingly popular in the transportation sector.

House Republicans: White House plan for infrastructure bank ‘dead on arrival’

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