Chicago Mayor and former White House Chief of Staff Rahm Emanuel speaks with the Center for American Progress Action Fund about innovative methods for funding infrastructure growth.
Chicago has an "Infrastructure Trust" which allows the mayor more flexibility to define and fund infrastructure improvements than the traditional direct legislative appropriations or bond sales that other cities and states use.
Mayor Emanuel highlights the ways that the trust allows the city to make improvements to public transit, community colleges and transportation infrastructure, like stoplights and crosswalks.
He cited the city's walkable streets, efficient public transportation system, and bike lanes as key to attracting companies to the higher-rent offices in urban areas.
According to the Center for American Progress Action Fund, "Updating our aging infrastructure will help American regain its economic strength and improve the competitiveness of our economy. Equally evident is the strain on public financing in the wake of the 2008 global financial crisis, which has severely reduced the resources available to many state and local governments for major infrastructure projects."
Rahm Emanuel was introduced by Transportation Secretary Ray LaHood.