Bipartisan Bill to Increase North Am. Devel. Bank Funds Introduced by Texas Border Congressmen
Modernized Regulations Would Improve Efficiency, Taxpayer Returns, Says Rep. Cuellar
Late yesterday afternoon, Congressman Henry Cuellar (D-TX) introduced the North American Development Bank Improvement and General Capital Increase Authorization Act of 2017, co-sponsored by Rep. Will Hurd (R-TX), Rep. Lloyd Doggett (D-TX), Rep. Al Green (D-TX), Rep. Gene Green (D-TX), Rep. Vicente Gonzalez (D-TX), Rep. Beto O’Rourke (D-TX), and Rep. Filemon Vela (D-TX).
This legislation provides the North American Development Bank (NADB) with needed funds to invest in clean drinking water, sewage treatment, and other essential projects on the U.S.-Mexico border.
It would authorize funds that were appropriated in 2016, increasing the United States’ capital investment in NADB to match Mexico’s additional paid-in contribution of $225,000,000.
It would also streamline NADB’s project approval process, fund limited port infrastructure and natural gas projects, and require reports to ensure NADB’s chosen projects provide good value to the region and taxpayers.
“The North American Development Bank has been a fantastic investment for American taxpayers, and provides essential services on our southern border,” said Congressman Henry Cuellar.
“Clean drinking water,
Congressman Vicente Gonzalez said, “It is
Russ Jones, Chairman of the Border Trade Alliance, said, “We deeply appreciate Rep. Cuellar’s advocacy on behalf of the North American Development Bank. Our members from San Diego, California to Brownsville, Texas have long supported the NADB for the significant contribution it has made to the quality of life in the border region. In order for the Bank to continue its good work, including its efforts to improve
NADB, established in 1994, treats about 468 millions of gallons of sewage and 1,550 tons of waste per day. These projects keep water, land, and air near the border clean and safe. On average, $1 in NADB financing results in $3 in infrastructure investment – and excellent return for all U.S. taxpayers. (See attached infographic.)
The initial capital investment was $225,000,000 in paid-in capital each from the United States and Mexico. This would be the first additional injection of U.S. funds since 1994.
Congressman Cuellar represents the 28th district of Texas, which includes nearly 280 miles of the U.S.-Mexico border.