Infrastructure bank to get a House hearing

"This hearing will focus on questions relating to the estimated $270 million yearlong process of creating another federally backed agency designed to pick project winners and losers," Mica continued. "A more positive approach would be to build on the 33 existing state infrastructure banks which lack financial backing but are in place, can get projects selected and moving and put people to work on an expedited basis."

The federal infrastructure bank proposal has been been pushed in the Senate by Sens. John KerryJohn Forbes KerryJohn Kerry to NYU Abu Dhabi: We can't address world problems by 'going it alone' Juan Williams: Trump's dangerous lies on Iran Pompeo: US tried, failed to achieve side deal with European allies MORE (D-Mass.) and Kay Bailey Hutchison (R-Texas).

The proposal is joined by $50 billion in direct spending on transportation that is included in Obama's jobs proposal.  

The Transportation Committee's hearing on the infrastructure bank proposal will take place Oct. 12.