This post originally appeared on Orphan Road.
I agree with Andrew that a national infrastructure bank would be a good idea. President Obama’s mentioned it on several occasions, but I believe the idea goes back to the 2007 Dodd-Hagel bill to create such an entity. Also see this prescient Bob Herbert column from just over a year ago.
Ideally, the bank would have two qualities: (1) it would be able to lend directly to agencies, instead of having to filter the money through state governments where potential shenanigans could occur, and (2) the formulas used for calculating the funds would take into account the impacts of transit-oriented development, land use patterns, have a long-term time horizon, etc.