Depending on if and when it’s approved, the proposed federal infrastructure bank could be used to pay for the Ohio River Bridges Project.
Massachusetts Senator John Kerry recently introduced a measure in the Senate to create a self-sustaining fund to finance infrastructure improvements. Third District Representative John Yarmuth says the bridges project fits the criteria in Kerry’s proposal.
“The projects it’s used to finance have to be projects of regional or national significance. Unless they’re in rural areas, they have to be $100 million,” he says. “So these are big projects that are very, very difficult to fund. These are projects that have to have a dedicated revenue stream to help support the investment.”
The measure has some bi-partisan support in the Senate. Yarmuth says he thinks it could earn several Republican backers in the House, too, largely because it could attract private investment and because it would not require additional federal deposits every few years. He does expect it to draw criticism from Tea Party-aligned lawmakers, though.