The Chris Dodd and Chuck Hagel bill on America's infrastructure

[malaise]

Talk about timing. This was introduced yesterday before the bridge collapse. barnacle was talking with them a while ago.

http://dodd.senate.gov/index.php?q=node/4002
<snip>
Responding to a looming crisis that jeopardizes the prosperity and quality of life of all Americans, Senators Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, and Chuck Hagel, R-Neb., today introduced a measure to revitalize, repair, and replace America’s aging and crumbling roads, bridges, transit systems, and water treatment facilities. Two dramatic headlines in recent weeks have highlighted the escalating problem. Two weeks ago, an 83-year-old steam pipe burst in midtown Manhattan, releasing asbestos laden particles and causing widespread damage. Media reports have also recently questioned whether contaminated drinking water near Camp Lejeune in North Carolina, may have exposed families in the area to high levels of dangerous chemicals.

It will require a huge financial commitment to modernize our national infrastructure. The legislation we are introducing establishes a new system through which the federal government can finance infrastructure projects by leveraging private and public capital to fund large projects that are vital to our country. This legislation provides a new model for prioritizing the building and maintenance of our national infrastructure,” Hagel said.



According to the American Society of Civil Engineers, the current condition of our nation’s major infrastructure system earns a grade point average of D. The average age of drinking water and wastewater systems range in age from 50 to 100 years in age. According to the Texas Transportation Institute, the average traveler is delayed 51.5 hours in the nation’s 20 largest metropolitan areas. The delays range from 93 hours in Los Angeles to 14 hours in Pittsburgh. Combined these delays waste 1.78 billion gallons of fuel each year and waste almost $50.3 billion in congestion costs.



The bill, the National Infrastructure Bank Act of 2007, would streamline the process by which national infrastructure projects are targeted. It would create an independent national bank that would identify, evaluate and help finance infrastructure projects of substantial regional and national significance. Infrastructure projects under the Bank’s jurisdiction would include publicly-owned mass transit systems, roads, bridges, drinking water and wastewater systems, and housing properties.



The Dodd-Hagel legislation follows two reports released by the Center for Strategic and International Studies (CSIS) in 2005 and 2006 that highlighted the urgent need for a national plan and investments to improve infrastructure needs across the nation. Felix G. Rohatyn and Senator Warren Rudman were Co-Chairmen of the CSIS Commission on Public Infrastructure.

PDF
http://dodd.senate.gov/multimedia/2007/080107_InfrastructurePacket.pdf

[malaise]

1. Shameless kick n/t

[TwilightGardener]

2. Saw them on Hardball--I'm not a banking/investment savvy person,

but it sounds good to me--sounds like they are trying to raise the money without raising taxes.

[malaise]

3. That's the flaw but at least they are aware of a serious problem n/t

[TwilightGardener]

4. Not sure why it's a flaw to NOT raise taxes, if there's a way to avoid it--

it makes the bill more likely to pass. Plus, Hagel can't raise taxes--it would be politically fatal for a conservative Repub. If they can find a creative and workable way around taxation, I'm all for it.

[malaise]

5. Stop giving tax breaks to the rich

Stop wasting money on pork
Stop building bridges to nowhere
Stop wasting trillion sin Iraq
Stop giving Haliburton and cronies taxpayer money

The government is responsible for infrastructure.

[TwilightGardener]

6. I agree with spending our tax money better, obviously--

and for not giving the rich a break. I do believe that the gov's (state and federal) are primarily responsible for the repairs and maintenance, but if there's a way to fund projects without raising taxes, why object?