Sen. Tester introduces bill to build out electric infrastructure in rural areas

U.S. Sen. Jon Tester (D-MT) introduced a bill last week that seeks to help improve the electric infrastructure in rural communities.

The Improving Rural Access to Power Act will increase access to capital for rural electric cooperatives so they can make improve the electric grid.

“When Montanans see lower energy costs, they have more money in their pockets to shop, invest, and increase opportunities for their families,” Tester said. “This bill will allow rural electric co-ops to make the kind of infrastructure investments needed to build a stronger business environment so local entrepreneurs can expand and create more jobs.”

Rural electric cooperatives are widely used in his home state of Montana. The state has 25 rural electric cooperatives that serve nearly half of the people living in the state.

“This bill strengthens electric cooperative financing options and helps ensure access to capital as co-ops maintain and expand the critical infrastructure that powers rural Montana and other rural American communities,” Dave Wheelihan, CEO of the Montana Electric Cooperatives Association, said. “We strongly support this legislation and thank Sen. Tester for his commitment to rural America.”

Tester’s bill will increase the access that rural electric cooperatives’ have to capital. It does that by allowing the Federal Home Loan Bank to purchase securities issued by qualified cooperative lending associations voluntarily. This additional capital will all these cooperatives to make investment upgrades.

Sen. Jerry Moran (R-KS) co-sponsored the legislation.