Bloomberg News

Infrastructure Bank Likely Dead Given House Stance, LaHood Says

October 13, 2011

Oct. 13 (Bloomberg) -- Proposals by President Barack Obama and three U.S. senators to create a national infrastructure bank aren’t “going anywhere” after the House transportation committee’s chairman called the proposal “dead on arrival,” Transportation Secretary Ray LaHood said.

Representative John Mica’s remarks yesterday show House Republicans won’t support the measure, LaHood said today at the National Press Club in Washington.

LaHood said he supports creating a new Build American Bond program, to succeed one that ended Dec. 31, because it helps municipalities finance infrastructure projects.

--Editors: Bernard Kohn, Steve Geimann

To contact the reporter on this story: Carol Wolf in Washington at cwolf@bloomberg.net

To contact the editor responsible for this story: Bernard Kohn at bkohn2@bloomberg.net -0- Oct/13/2011 18:35 GMT


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