Texas Border Business
Modernized Regulations Would Improve Efficiency, Taxpayer Returns, Says Rep. Cuellar
Washington, DC – 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, sewage and waste treatment are the kinds of basic projects we can’t afford to under-fund. They don’t just keep our communities clean – they keep us safe from disease. After 23 years, it is time to grow our contribution to meet demand, and match our Mexican partners. My bill will also improve the bank’s efficiency, and fund important port infrastructure and natural gas projects vital to the Texas economy.”
Congressman Vicente Gonzalez said, “It is time that the U.S. honors our commitment to support NADBank’s projects that bring water, clean energy, and sound infrastructure to in our region on both sides of the border. In 2014, the government of Mexico approved $1.5 billion in capital needed for NADBank’s infrastructure initiatives. Nearly three years later, the U.S. has failed to make a similar investment in the cross-border development agency. This legislation will help ensure that both nations are responsible for their fair share. As a member of the Financial Services Committee, which has direct jurisdiction over NADBank, I will work to shepherd this important legislation through the U.S. Congress.”
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 traffic flows at our ports of entry, the institution needs access to levels of capital that reflect its important mission. We look forward to working with Rep. Cuellar and the bipartisan coalition of co-sponsors to advance the bill to passage.”
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.
To see the NADB infographic click here.
