Backing the Infrastructure Bank

The Los Angeles Times is standing behind President Barack Obama's recently announced infrastructure bank proposal, but not just because it could boost transit in L.A.

The infrastructure bank idea being pushed by the Obama administration would help Los Angeles Mayor Antonio Villaraigosa's 30/10 Plan, the idea to concentrate 30 years worth of transportation projects into the next ten years. The newspaper's editorial board supports the plan.

"Obama's infrastructure bank proposal, too, would probably be taken up as part of the transportation bill. Republicans are already lining up against it, saying the bank could expose taxpayers to heavy financial risks. That could be true, although everything depends on how the bank is structured. We think the idea is well worth exploring, and not just because it could accelerate L.A.'s transit improvement schedule and create thousands of local jobs by financing the 30/10 initiative. Such a bank would allocate transportation funding based on merit rather than political patronage, a fairer and more efficient way of keeping the country moving."

Full Story: Banking on 30/10

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