The enactment of the Infrastructure Investment and Jobs Act, which received 19 Republican votes in the Senate, was an achievement of rare bipartisanship. But it is not enough. Massive financing is needed for U.S. infrastructure, going far beyond the IIJA – especially now, with a dire need for more pipelines and terminals to supply Europe with natural gas and with continuing bottlenecks in the U.S. supply chain.
The best way to fill this gap is by creating a new, private financial institution.
The IIJA is just a down payment. Look at the math. The headline figure is $1.2 trillion, but new…