Quote:
The Hagel-Dodd bill, dubbed the National Infrastructure Bank Act of 2007, would create an independent national bank that would identify, evaluate and help finance the largest infrastructure projects...
The bank would be able to provide money for such enormous projects by selling long-term bonds to individuals, corporations and other entities. Rather than reaping interest on the bonds, the bond holders would get tax credits. The bonds would be guaranteed by the federal government.
Asked how much those tax credits would cost the government, Hagel said an estimate has not yet been worked up. However, he said the Government Accounting Office, the Treasury Department and others are working on an estimate.
Hagel said he and Dodd have been working on the bill for about two years.
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Just a slimey shell game, creating another bureaucratic institution to shift present spending to future taxpayers. And they haven't even bothered to crunch numbers to reveal it's true cost, though I'd triple whatever price they claim just because they're scumbag politicians.