Yesterday afternoon, Rep. Pete Aguilar (CA-31) joined Rep. Rosa DeLauro (CT-03) in introducing H.R. 3337, the National Infrastructure Development Bank Act as a cosponsor. Rep. Aguilar listed a National Infrastructure Bank as a top priority in his Jobs Plan that was released earlier this year. The bank will facilitate funding for a number of critical transportation projects throughout California and the country—improving the roads, bridges and rails that millions of Americans rely on every day.

“I’ve heard it from constituents at ‘Coffee with your Congressman,’ telephone town halls, and even in the super market: our roads and bridges are crumbling beneath us. We cannot wait any longer, we need to act. Improving our transportation network and infrastructure will both put people back to work and provide us with reliable infrastructure to attract new businesses to the Inland Empire. That is precisely why I prioritized establishing a National Infrastructure Bank in my Jobs Plan, and it is why I cosponsored this legislation. We’ve kicked the can down the road long enough on federal funding for transportation—it’s time to take proactive steps to invest in our nation’s roads, bridges and rails,” said Rep. Aguilar.

The National Infrastructure Development Bank, created by the bill, would use federal funding investments to leverage private dollars to invest in public transportation and infrastructure projects.  The Bank would finance up to half the cost of a project, and prioritizes those with a regional or national significance, that create jobs, and that grow the economy.  Projects could include transportation projects like bridges, rail, airports and roads; environmental projects like water systems and industrial site cleanup; energy projects like efficiency improvements for public housing and energy storage; and telecommunications projects like expanding broadband.

Investing in transportation systems and infrastructure is one of Rep. Aguilar’s top priorities in Congress and a major component to getting the Inland Empire economy back on track. He included this in his Jobs Plan, which was released in April and can be read here. Earlier this month, he cosponsored the GROW AMERICA Act—a long-term funding bill that would extend authorization of the Highway Trust Fund for six years, allowing San Bernardino County to plan and execute crucial transportation and infrastructure projects.