SCHAUMBURG, IL, (January 4, 2016) – The International Association of Ironworkers and its Local 63 union in the Chicago area endorsed Raja Krishnamoorthi today in his bid for Congress in the 8th District of Illinois that includes the northwest suburbs of Chicago.The backing from the Ironworkers follows endorsements of Raja from other unions and their leaders such as the Illinois State Council of Machinists, the International Union of Elevator Constructors Local 2, the Air Line Pilots Association, the Office and Professional Employees’ Union Local 45 and Illinois Letter Carriers’ President Ken Christy.

“I am honored to have the support of the Ironworkers as our campaign looks to bring economic security to the hardworking men and women of the northwest Chicago suburbs,” Raja said. “I look forward to working with the Ironworkers to create a federal infrastructure bank to fund critical transportation projects that spur economic development and create good-paying jobs for working families.”

Raja has proposed a federal infrastructure bank financed by ending the oil depletion allowance — a tax break for the oil industry — that would save the U.S. Treasury more than $10 billion over the next ten years. That amount of savings could generate close to $100 billion in capital for infrastructure projects around the country. After the federal infrastructure bank is capitalized, it would become self-perpetuating as its loans are repaid.

Raja pointed to two transportation projects in Chicago’s northwest suburbs that would benefit from the federal infrastructure bank: the Metra Star line and the Elgin-O’Hare expressway. The Metra Star line would connect the Chicago suburbs by rail transportation and would have a projected ridership exceeding any existing Metra line. The Elgin-O’Hare expressway would provide a long-sought western access to the O’Hare airport. Finally underway now, the project may yet face delays because of uncertain funding from federal and state government sources.

“Our nation is falling behind in maintaining and modernizing our transportation network, which hurts our economy and our ability to compete in the world,” said Raja. “A federal infrastructure bank could provide low-interest loans to states and cities to help finance crucial projects like roads and transit systems. It’s a way around the politics that is paralyzing important local and national goals.”

The International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers Union, AFL-CIO, is a proud trade association whose beginnings date to the 1890s. The union represents 120,000 members in North America. Union members have worked on nearly every major American construction project, including the Sears Tower (now Willis Tower), Golden Gate Bridge, St. Louis Arch, World Trade Center, and now Freedom Tower. In the Chicago area, Ironworkers have worked on the renovation of Soldier Field and the construction of the “Bean” in Millennium Park in downtown Chicago.