FedFin Assessment: Infrastructure Bank/Bonds Strategic Implications
Sen. Joe Manchin (D-WV) recently reiterated that he believes an “infrastructure bank” would be an appealing way to fund significant U.S. investment without the direct cost associated with President Biden’s plan. We expect legislation along the lines of a new guarantee authority and/or public-private bonds to advance not just due to their fiscal efficiency, but also the deep knowledge and political base about ideas such as these that were strongly advanced during the Obama Administration (see Client Reports in the INFRASTRUCTURE series).