Congressman Delaney introduces infrastructure bill
from Office of Congressman Delaney
On May 22, Congressman John K. Delaney (MD-6) introduced The Partnership to Build America Act (H.R. 2084). Featuring a bipartisan group of 13 Republican and 13 Democratic co-sponsors, the Partnership to Build America Act upgrades America’s aging infrastructure with no additional burden to taxpayers. The Partnership to Build America Act creates a $50 billion dollar infrastructure fund that can be leveraged to $750 billion. This fund will be capitalized by the sale of 50-year bonds that are not guaranteed by the Federal government and pay 1 percent interest rate. To encourage U.S. corporations to purchase these bonds, they will be allowed to repatriate a certain dollar amount – determined by auction - in overseas earnings tax-free for every $1 they invest in the bonds. The fund will then provide loans or loan guarantees to states and municipalities to finance transportation, energy, communications, water and education infrastructure projects.
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