January 21, 2014
Congressman Richard Hanna joined Mayor Rich David in Binghamton today to announce a plan to make more money available for transportation projects. The proposal would establish an infrastructure bank in New York, funded by the federal government.
Hanna aims to kill two birds with one stone; strengthen federal transportation laws and improve on the failing infrastructure in upstate New York.
“Upstate New York has almost 6,000 bridges that are in trouble, that need repair, and on and on. And our population has declined. Our tax base as declined, you can see that. So anything that helps that dynamic is a positive thing.”
He bill he introduced would create an infrastructure banking system. Basically, states would receive money from the federal government for transportation-related loans to local governments. Municipalities could then use the money to improve deteriorating roads or repair bridges.
“It’s a wonderful option because where else can you go for that money?”
The bill is currently waiting to be voted on by the House Transportation Committee. If the bill makes it through Congress, Hanna is hoping the money will be available sometime next year.