House Transportation and Infrastructure Committee Chair John Mica (R-Fla.) tossed cold water on Obamas call for a national infrastructure bank Thursday night, just minutes after the president told Congress to put partisanship aside and pass his plan quickly.
Weve already had experience with some of these federal grant programs that requires Washington bureaucrats, Washington red tape, Washington approvals and then bowing and scraping to Washington. Im strongly opposed to any type of a new federal infrastructure bank, Mica said in an interview following the speech.
The White Houses vision for the bank includes $10 billion in seed money and an independent board to attract private capital to infrastructure projects. The point, of course, is the get the projects going and get workers digging without the taint of big government spending projects now out of favor. Its all part of an overall $50 billion infrastructure proposal in the estimated $447 billion American Jobs Act proposed by Obama last night.