U.S. Senator Chris Coons (D-Del.) is an original cosponsor of the Rebuilding America Jobs Act introduced Monday to help address America's jobs crisis by investing in America's crumbling infrastructure. It is the second independently introduced piece of President Obama's American Jobs Act that Senator Coons has cosponsored.
"On top of the hundreds of thousands of construction jobs this bill would create, investing in our infrastructure means investing in America's long-term competitiveness," Senator Coons said. "Access to safe roads, modern railways and airports are among the most important elements when manufacturers look for where to take root and create jobs. The roads we pave, bridges we build, and track we lay today will ensure that American companies can get their products to market and that American workers can get to their jobs."
The Rebuilding America Jobs Act includes the following elements:
* $27 billion to rebuild roads and bridges
* $9 billion to repair transit systems
* $5 billion for competitive grant program
* $4 billion for high-speed rail
* $2 billion to improve airport facilities
* $1 billion for NextGen air traffic control system
* $10 billion for a national infrastructure bank
Poor road conditions are estimated to cost U.S. motorists as much as $67 billion a year in repairs -- almost $333 per motorist. And in 2009, congestion caused Americans to travel for 4.8 billion additional hours and buy an additional 3.9 billion gallons of fuel at a total cost of $115 billion. The Rebuilding America Jobs Act will help Americans save money at a time when every penny counts.
"After the jobs this bill would create around the country, the most appealing part of this bill for me is the formation of a national infrastructure bank," Senator Coons said. "It's a smart, bipartisan, fiscally responsible idea that will bring the private sector to the table as states and municipalities invest in their own infrastructure. It's an important part of the Rebuilding America Jobs Act."
Earlier this year, the U.S. Chamber of Commerce and AFL-CIO both endorsed a national infrastructure bank as introduced in the BUILD Act by Senators John Kerry (D-Mass.) and Kay Bailey Hutchison (R-Texas) and cosponsored by Senator Coons.