I just agreed to support a bill that will help state and local governments leverage private capital to build and repair aging infrastructure, and create jobs in the process.
The legislation expands an existing public-private partnership called Build America Bonds that has already created jobs in every state in America while repairing roads, schools, hospitals, mass transit systems and water utilities. So far, every $1 dollar spent on this program has leveraged $41 in private-sector activity, financing $181 billion in local and state bonds. That has funded 2,200 public works projects across the country and created thousands of new jobs.
My support of this bill is part of my overall effort to create jobs by repairing our country's infrastructure, including passage of a long-term transportation funding bill. Roads, highways and bridges are neither Republican nor Democratic. This is common sense, bipartisan legislation that will keep our country and our economy moving forward.