Bill Clinton wants Congress to 'look again' at infrastructure bank

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President Obama and Democrats in Congress proposed in 2010 and 2011 to create a $50 billion infrastructure bank that supporters said could be leveraged to attracted private investment in road and transit projects.

Republicans in the House opposed the idea, arguing that states should be allowed to start their own infrastructure banks.

Transportation advocates opposed the idea of state infrastructure banks because many states had small ones, or did not have funds at all.

Clinton, appearing on MSNBC with Chicago Mayor Rahm Emmanuel, praised local governments that were creating infrastructure funds.

"Rahm has really pioneered this in Chicago," Clinton said. "When the infrastructure bank, which used to have a great deal of bipartisan support, seemed to be going nowhere in Washington, which would use a little bit of public money to seed a lot of private money, and guarantee a good rate of return, then he established, in effect, the country's first urban infrastructure bank in Chicago."

"He's got a lot of people across party lines and all sectors of the economy involved in it," Clinton continued. "And so what we're trying to do is to get other cities to do the same thing."