It’s like Beatlemania for roads and rails—a national infrastructure bank. While the idea has been kicking around the Obama administration and Capitol Hill and the chattering classes for a long time, yesterday the president explicitly proposed creating one, capitalized with $50 billion “to leverage federal dollars and focus on the smartest investments.”

A national infrastructure bank has also long been central to our ideas on reforming America’s Rube Goldberg-esque transportation financing system. My colleague Rob Puentes has some fresh analysis of the president’s proposal here, and for a nuts and bolts accounting of how an infrastructure bank should be established and operated go here.