Delaney Bill Highlighted at AEI & Third Way Infrastructure Panel

WASHINGTON - On Monday, Congressman John K. Delaney (MD-6) participated in a wide-ranging panel discussion focused on improving our nation’s infrastructure and breaking Congressional gridlock. Sponsored by the American Enterprise Institute (AEI) and Third Way, the panel brought together industry stakeholders and thought leaders. In addition to Congressman Delaney, the panel included Janet Kavinoky from the U.S. Chamber of Commerce, Ron DeFeo, CEO of the Terex Corporation; and Dr. R. Richard Geddes, of AEI.

Panel participants highlighted Congressman Delaney’s Partnership to Build America Act (H.R. 2084) as one piece of legislation that could serve as a solution to America’s infrastructure problem. The bill currently has 22 Democratic and 23 Republican cosponsors.

“Our crumbling roads and bridges, crowded airports, and stressed water systems send a more powerful message than any political rhetoric: to stay competitive we have to rebuild our infrastructure” said Congressman Delaney. “I was honored to participate in today’s panel, because the Partnership to Build America Act is truly evidence that we’re moving closer to ending the gridlock on infrastructure. Even against our current backdrop, compromise is not impossible in Washington. Investing in infrastructure will create jobs, strengthen the private sector, and improve our quality of life. In a time of tight budgets, it is essential that we finance infrastructure in the most taxpayer-friendly way possible, which is why my bill has attracted such strong bipartisan support.”

The bipartisan proposal 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% 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.

As the only bipartisan infrastructure financing proposal in the House, H.R. 2084 would clear the way for funding necessary infrastructure investments to keep American businesses competitive into the future.

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