Delaney Introduces Bipartisan Infrastructure Bill
WASHINGTON – Congressman John K. Delaney (MD-6) today 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.
“We can’t compete in the global economy of the 21st century without a significant investment in our infrastructure. At no cost to the taxpayer, this legislation will finance a massive investment in U. S. infrastructure, get Americans back to work now, and position our businesses to grow for decades to come,” said Delaney. “I’m proud to introduce this legislation with such strong bipartisan support and feedback from my co-sponsors made this a better bill. The American people sent us here to work together, find solutions, and work towards the common good.”
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% 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.
The Partnership to Build America Act is co-sponsored by the following members: Andy Barr (KY-6), Ami Bera (CA-7), John Carney (DE-AL), Tom Cole (OK-4), Gerry Connolly (VA-11), Rodney Davis (IL-13), Mike Fitzpatrick (PA-8), Tulsi Gabbard (HI-2), Joe Garcia (FL-26), Chris Gibson (NY-19), Bill Johnson (OH-6), Dave Joyce (OH-14), Joe Kennedy (MA-4), Ron Kind (WI-3), Adam Kinzinger (IL-16), Luke Messer (IN-6), Jim Moran (VA-8), Patrick Murphy (FL-18), Scott Peters (CA-52), Robert Pittenger (NC-9), Jared Polis (CO-2), Dutch Ruppersberger (MD-2), Kyrsten Sinema (AZ-9), Steve Stivers (OH-15), Mike Turner (OH-10), and Ted Yoho (FL-3).
Prior to taking elected office, Delaney worked for two decades in the financial services sector, having founded and led two successful public companies. Delaney is the only former CEO of a publicly traded company in Congress.
For more information on The Partnership to Build America Act, click here.