The "Build USA Act" legislation, which Sen. Deb Fischer (R-Neb.) introduced, would create a national infrastructure bank that would provide funding for states to apply for loads at low interest rates. Fischer says her bill is a more viable solution to the transportation funding shortfall than increasing the gas tax.
Under Fischer's proposal, states would return unused federal dollars from pervious construction projects to provide a pool of funding for other projects. States who agree to participate in the program for a three-year period would receive greater control over their transportation projects and be able to apply for low-interest federal loans for infrastructure projects.
According to Fischer, “My bill adheres to three important points: reduce regulatory burdens, redirect funding, and provide states with more authority to manage their highways and bridges."
(more on Sen. Fischer's infrastructure bank legislation proposal...)
