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119-hr-4315119th CongressWALLET

National Infrastructure Investment Corporation Act of 2025

Sponsored By: Representative Carbajal, Salud O. [D-CA-24]

In Committee

Summary

Creates a federal National Infrastructure Investment Corporation to provide low-cost loans, loan guarantees, and bonds for infrastructure projects that states and cities cannot fully finance. It lets the Corporation attract pension-fund capital, operate under TIFIA-like terms, and includes required Congressional notice and layered audits.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

New national lender for big projects

This bill would create a federal corporation to help finance large infrastructure that states and cities cannot afford alone. It would offer low-cost loans, loan guarantees, and bonds for transportation, energy, environmental, and telecom projects. The Board would set goals, approve budgets and plans, hire staff, and hire at least one external auditor each year. It would aim to rank projects fairly and keep federal costs down.

Stronger audits and reports to Congress

The Board would send an initial report to Congress within one year and then every year. The Corporation would appoint an Inspector General to audit accounts and investigations within one year and yearly after. The IG would enforce this Act and follow the Inspector General Act. The Government Accountability Office would review the Corporation five years after enactment and every five years after. GAO would assess benefits and impacts of each financed project.

Loan rules and Congress review

Project sponsors could apply for loans, guarantees, or bonds. They would file a detailed letter on location, cost, financing plan, environmental review, and the area served, and meet set prerequisites in federal law. Before approval, applicants would consult affected Members of Congress. The Corporation would send Congress a report and wait 60 days; Congress could pass a joint resolution to disapprove. Loans could be backed by pension‑fund loans in FY2026–FY2030, up to $5 billion per year, at 3%–4% APR. Financing would follow TIFIA‑like terms and match project timelines.

Who runs the new corporation

A seven‑member Board would run the Corporation. Three members would be President‑appointed and Senate‑confirmed, and four would be appointed by congressional leaders. Members must be U.S. citizens with infrastructure or finance experience and represent different regions, including rural areas and small communities. Initial appointments would be due within 30 days of enactment. The President would name the Chair for five years; four congressional appointees would serve four years; two Presidential appointees would serve two years. Vacancies would be filled the same way, and members could serve until a successor takes office.

Sponsors & CoSponsors

Sponsor

Carbajal, Salud O. [D-CA-24]

CA • D

Cosponsors

  • Rep. Webster, Daniel [R-FL-11]

    FL • R

    Sponsored 7/10/2025

Roll Call Votes

No roll call votes available for this bill.

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