Kirk touts private funding for infrastructure

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Illinois U.S. Senator Mark Kirk address members of fox valley area Chambers during a breakfast at Pipers Banquets in Aurora on Tuesday, September 27, 2011. | Brian Powers~Sun-Times Media

Lincoln act

To read the text of the Lincoln Legacy Infrastructure Development Act, go to www.kirk.senate.gov/pdfs/P3bill.pdf.

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Updated: November 27, 2011 1:23PM

AURORA — Speaking to a crowd filled with mostly business owners Tuesday morning, U.S. Sen. Mark Kirk did not paint a rosy economic picture.

“It appears we may be teetering on the edge of a new recession,” the Illinois Republican said during the legislative breakfast at Pipers Banquets.

Fortunately, Kirk came to the meeting with a proposed solution as well. Kirk said private-public partnerships on road, rail and aviation projects are the key to unleashing $100 billion into the economy. Last week, Kirk introduced the Lincoln Legacy Infrastructure Development Act and has been touting the plan in various stops around the state.

Kirk said the bill would strip away the regulations that prohibit partial privatization of federal projects by encouraging investment in road, rail, aviation, highway and port infrastructure. Kirk contends that there is $225 billion in public transportation infrastructure projects needed every year through 2025, but the government can only spend less than $90 billion per year. Allowing private companies to invest in the project could accelerate the project plans and churn the economic engine, Kirk said. The Lincoln Act could include everything from allowing commercialization of rest areas to authorizing up to $7 billion in loans for infrastructure projects, he said.

The “Lincoln” reference in the bill’s name is a nod to Abraham Lincoln’s support for the Transcontinental Railroad, which Kirk held up as an example of private and public partnership that benefited millions of people by connecting the East and West coasts. The bill has been introduced by Kirk in the Senate.

Kirk was hesitant to support or condemn the president’s transportation bill. He said that Republicans and Democrats agree on many areas within the bill, so those need to be pulled out and passed first. He believes both sides can agree on any proposals that don’t increase federal spending and don’t increase borrowing from the Chinese government.

Tuesday’s breakfast was hosted by the Batavia Chamber of Commerce and included members from 11 other chambers across the Fox Valley.

After his short speech, Kirk took audience questions, and several focused on health care legislation. Kirk said that President Obama will veto any bill that would repeal the health care reforms and he has the votes to uphold the veto. Kirk, who does not support the legislation, said the key to repealing it will be the presidential election.

“You tell me who wins the presidency, and I’ll tell you whether the health care bill is law or not,” he said.

Kirk also said he is against an Internet sales tax that he believes would scare business out of Illinois.

He spoke in favor accelerating the permitting process for energy resources, including the Keystone Pipeline that would bring Canadian oil to the U.S.