Bennet Sponsors Infrastructure Bill

In May of 2013, Congressman John Delaney introduced the Partnership to Build America Act (H.R. 2084). The Partnership to Build America Act finances $750 billion dollar in infrastructure investment using no appropriated funds and has 63 co-sponsors (32 Republicans and 31 Democrats) in the House. Senators Michael Bennet (CO) and Roy Blunt (MO)introduced the legislation in the upper chamber in January of 2014, with bipartisan support. Senator Bennet spoke at length about the bill when he met with Colorado REALTORS in Washington, last week.

Without spending overstretched federal dollars, the Partnership to Build America Act will create construction jobs and help to improve U.S. competitiveness in the 21st century global economy. It establishes a $50 billion infrastructure fund that can potentially support hundreds of billions in loan guarantees and financing authority for state and local governments. The fund would finance transportation, energy, communications, water, and education infrastructure projects across the country.

The bill encourages U.S. companies to purchase these bonds by allowing them to exclude a certain portion of their overseas earnings from taxation. The amount that they are permitted to repatriate for each dollar of bond purchases will be determined by a competitive auction.

The Bennet-Blunt proposal establishes a $50 billion infrastructure fund that can potentially support hundreds of billions in loan guarantees and financing authority for state and local governments. The fund would finance transportation, energy, communications, water, and education infrastructure projects across the country.

The bill is not a replacement for keeping the Highway Trust Fund solvent, which is an urgent priority before Congress. But it is a bipartisan proposal to help capitalize infrastructure projects across Colorado and throughout the U.S.

Note: In meetings with both Colorado Senators, the importance of securing federal funding to expand I-25 was emphasized. Neither offered any specific comments on this issue but at least Senator Bennet is committed to financing infrastructure, as his sponsorship of HR 2084 demonstrates.

This entry was posted in Gov't Affairs, Govt - Nation, Govt - National Assoc. of Realtors® (NAR) and tagged , , , , , . Bookmark the permalink.

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