Seeking to stretch federal public-works dollars, Sen. John Kerry (D-Mass.) has proposed legislation to create a federal infrastructure bank, called the American Infrastructure Financing Authority, to help fund transportation, water and energy projects. Under Kerry’s bill, introduced on March 17, the bank would have $10 billion in initial federal funding. He estimates that could stimulate up to $640 billion in private and other non-federal investment over 10 years. The Obama administration’s 2012 budget proposal includes an infrastructure bank, funded at $30 billion over six years but limited to transportation projects. It would provide grants and loans. Kerry’s bank would issue
The 2016 Summer Olympics boating and swimming events have put an international spotlight on what has been a long-running problem in Rio de Janeiro—untreated sewage and trash are clogging up major bays and waterways.