Mike Bloomberg has been both a local and national leader on infrastructure. In New York City, Mike created the largest affordable housing, school construction and public hospital capital programs in the City’s long history. He has championed the effort to construct the Third Water Tunnel and developed and implemented a plan to extend the 7 train, the first city-funded extension of the Subway in a half century. Under his leadership, the City acquired and developed hundreds of acres of new parkland across the five boroughs.
Along with Governors Ed Rendell (D-PA) and Arnold Schwarzenegger (R-CA), Mike created Building America's Future - a think tank to develop and promote new ideas to help finance and enhance the nation's infrastructure. Mike has used his voice and influence to help persuade President Obama and Congress to invest more heavily in infrastructure projects. Their dedication to the need for greater investment in our infrastructure to build long term economic competiveness and enhance safety and quality of life in our communities paid off and is reflected in the new plan proposed by the President.
The Obama Administration has presented a $50 billion dollar infrastructure plan that will build on the investments in the American Reinvestment and Recovery Act over the next six years. The White House’s infrastructure plan seeks to repair 150,000 miles of road, lay 4,000 miles of rails and rebuild 150 miles of runway – through a new funding strategy instead of government earmarks guided by seniority, geography and politics which currently dictates spending on infrastructure initiatives. Building America’s Future voiced support for the Administration's proposed plan. In a statement Mike asserted, “We at Building America’s Future believe it is critical that our country not only fix our aging roads and bridges, but also modernize our airports and invest in high speed rail. President Obama is right to focus now on long-term infrastructure investments. The challenge is to find the money and we look forward to helping with that.”
The financing would be directed by a politically independent National Infrastructure Bank, coupling government funds with private investments, to support a wide range of valuable infrastructure projects. Mike has been a leading advocate of creating an independent National Infrastructure Bank. In 2008, he delivered testimony to the U.S. Senate Committee on Banking, Housing and Urban Affairs urging Congress to rethink how the government invests in, rather than budgets for, infrastructure.