Despite massive infusions of taxpayer dollars, banks are still not providing financing for private construction projects. Public construction projects have provided tens of thousands of skilled construction workers with work on vitally important projects. Until the private market rebounds, Congress must continue to invest in infrastructure.

There are numerous pieces of legislation that will put people to work from a full Surface Transportation Reauthorization to Clean Water Financing (HR 1262, which is stalled in the Senate). Other proposals are focused on retrofitting residential, commerical and industrial facilities to make them more energy efficient, or focus on a broad array of job creation measures from infrastructure spending to support for public employees. As we still face the highest unemployment since the Great Depression, Congress must extend additional funds to private infrastructure and also provide needed Unemployment Insurance and COBRA subsidies to working families through the rest of the year.

Unemployment Insurance
The measure (HR 4213 - PL 111-205), which cleared the House and was signed into law by President Obama on July 22, extends federal jobless benefits to those who have exhausted their normal six months of benefits through November 30 and makes that extension retroactive to June 2, when benefits last expired.
President Ayers statement on the passage of the Unemployment Insurance extension.
President Obama's statement on the Unemployment Insurance Extension

Title XVII Loan Guarantee Program
Established under Title XVII of the Energy Policy Act of 2005, the Secretary of Energy is authorized to make loan guarantees to qualified projects in the belief that accelerated commercial use of these new or improved technologies will help to sustain economic growth, yield environmental benefits, and produce a more stable and secure energy supply.

The President and Congress have a powerful policy tool in Title XVII that is fully funded by the private sector. The key to capitalizing on its power rests with the President and his Administration in exercising thier discretion to provide direction to the Office of Management and Budget, the Department of Energy and the Treasury Department on the operational execution of this Federal Credit Program.

Thoughtful implementation of Title XVII provides the President and Congress the tool to to: