Connecticut U.S. Senator Richard Blumenthal has joined a bipartisan effort to introduce a new infrastructure financing authority to help municipalities secure private funds for projects.
Blumenthal, joined by fellow Democratic Senator Mark Warner of Virginia and Republican Senator Roy Blunt of Montana, says the bill addresses the investment shortfall in maintaining the nation’s declining infrastructure.
The bill would help states and municipalities leverage private funds to build and repair outdated transportation, water and energy infrastructure.
The authority would initially be funded up to $10 billion to incentivize private sector investments.
