Frank Pallone: “I think what both my colleagues are talking about is equal opportunity. That is really what it is all about. We just…”

“I think what both my colleagues are talking about is equal opportunity. That is really what it is all about. We just want to make sure there is equal opportunity. And I wanted to mention, if I could, the way this is financed, again I am looking at the bill that was supported by the President and that our colleague, the gentlewoman from New York (Mrs. Lowey) has introduced, and it says that the Partnership to Rebuild America's School Act would provide up to a 50 percent subsidy of interest or the present value equivalent of other financing costs to a school district. So basically a leveraging, as the gentleman said, to lower the interest costs. And of course these States and the local localities have to contribute money, and it is basically a partnership with the Federal Government. The money can be used for a number of infrastructure needs, whether it is fixing or upgrading classrooms, building new schools, addressing health and safety, problems with air quality, plumbing, heating, lighting, or electricity.”