Brown wants ‘bank’ for Brent Spence, other projects
Cincinnati Enquirer – The nation needs to reinvest in its infrastructure to create jobs and promote long-term economic growth, U.S. Sen. Sherrod Brown, D-Lorain, said Tuesday.
Backed by a panoramic view of the Brent Spence Bridge, Brown announced at a press conference that he will file legislation to create a National Infrastructure Bank to help fund projects like replacement of the aging and “functionally obsolete” Brent Spence.
“We know that modernizing infrastructure creates jobs,” Brown said. “…But we also know that if we do infrastructure right, it means long-term economic growth.”
He said the infrastructure bank would provide federal loans and grants for projects of national and regional significance, such as the $2.3 billion replacement for the Brent Spence Bridge.
The 48-year-old bridge carries 3 percent of the country’s gross domestic product each year, but is overcrowded, outdated and has been labeled functionally obsolete for its lack of shoulder lanes for vehicles to use in emergencies.
Under Brown’s plan, local leaders could apply to the infrastructure bank for federal loans and/or grants.
