Tuesday, February 10, 2015

$750 Billion for Infrastructure Projects – With No Taxpayer Funds

Can you imagine an infrastructure bank loaning up to $750 billion to state and local agencies, using no federal funds? Congressman John Delaney of Maryland can, and has introduced legislation to create that loan program.  The Partnership to Build America Act (H.R. 2084) is supported by both Democratic and Republican Representatives.

The Partnership to Build America Act provides assistance to states and municipalities that are looking to finance infrastructure projects. The legislation doesn’t add federal bureaucracy and requires zero appropriated funds.

No taxpayer money would support the American Infrastructure Fund.

Instead, it would funded by the sale of $50 billion worth of Infrastructure Bonds.

U.S. corporations would be incentivized to purchase the bonds by allowing them to repatriate a certain amount of their overseas earnings tax free for every dollar they invest. Almost $2 trillion of corporate cash is sitting overseas.

What will the Partnership to Build America Act do?
  • Finance the rebuilding of our country’s transportation, energy, electrical, communications  and water infrastructure through the creation of an infrastructure fund using repatriated corporate earnings.
  • The American Infrastructure Fund would leverage the $50 billion of bonds at a 15:1 ratio to provide up to $750 billion in loans or guarantees.

What are the benefits of the Partnership to Build America Act?
  • Creates a large-scale infrastructure financing capability with zero federal appropriations.
  • Could finance $2 trillion worth of infrastructure and create more than 3 million jobs over 50 years.
  • Creates significant jobs in the short-term and helps U.S. competitiveness in the long-term. 
  • Drive the U.S. economy forward with massive infrastructure investments.
  • Ensures that U.S. corporations’ tax savings are invested in the U.S. economy to grow quality jobs.

We need to encourage our legislators to support this legislation.

Right now, the bill has 75 cosponsors (39 Republicans and 36 Democrats) in the House. The Senate version of the bill is sponsored by 6 Democrats, 7 Republicans, and 1 Independent.

 ** Click Here **  to tell your representative to cosponsor The Partnership to Build America Act!  

Congressman Delaney has interesting background: He’s the only former CEO of a publicly traded company serving in the House of Representatives and has extensive experience as a successful entrepreneur.

More importantly, John Delaney grew up in a blue collar household -- the son of a union electrician.

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