DeLauro Focuses on Nation's Economic Recovery An Investment Strategy for Creating Jobs

Press Release

Congresswoman Rosa L. DeLauro (CT-3) joined with labor and business - Benedict Cozzi, president of the CT Building Trades, and Don Shubert of Keep Connecticut Moving - to discuss the need for an investment strategy for creating jobs by investing in public works projects, such as roads, bridges, transit, water infrastructure, school maintenance, as well as alternative energy projects and how it is a key component to getting our economy back on track.

Earlier this week, DeLauro stood with House Democratic Leadership to announce plans for an economic recovery bill, that could include more federal funds for bridges and other transportation projects, as well as a permanent tax cut for lower- and middle-income families, an extension of unemployment benefits, and increased money food stamps and additional funds to the states to prevent cuts in critical programs such as healthcare for children and seniors.

"By investing in infrastructure and rebuilding America - we can create quality jobs that cannot be outsourced and help the middle class hit hard by soaring prices and a financial market in crisis," said DeLauro. "Earlier this weak, Speaker Pelosi hosted an Economic Forum - with Democratic Leadership in the House and Economic experts - and I came away with confidence. We are committed to passing an effective economic recovery package--and that includes infrastructure investments."

Infrastructure is an effective investment. Every $1 billion in federal funds invested creates up to 47,500 jobs and $6.2 billion in economic activity. According to ConnDOT, the state has 20 ready-to-go-highway projects, including improvements to I-95, the I-84 - Hartford Viaduct and the Moses Wheeler Bridge.

DeLauro has long advocated for investing in infrastructure, introducing the National Infrastructure Development Act. This would create a National Infrastructure Development Corporation (NIC) that would issue "public benefit bonds" and offer other financing packages to investors in order to finance projects around the country. Initially funded by an annual $3 billion government investment over a three-year period ($9 billion), as well as a $30 million authorization to pay for start-up costs, the Corporation would then become self-sustaining and over time, would repay taxpayer's initial $9 billion investment.

Continued DeLauro, "Infrastructure is the lifeblood of our economy. Keeping that healthy means making a commitment to improve surface transportation, the power grid, and telecommunications systems, in part by leveraging the private sector, so that we can create jobs, strengthen the economy, become more energy efficient, and improve our way of life. And it all begins here with an investment in our infrastructure and a commitment to rebuild our nation."

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