Federal Infrastructure Bank: New Investments and Project Financing in the US
This act establishes a Federal Infrastructure Bank to facilitate the financing of major infrastructure projects across the United States, including roads, bridges, airports, and water systems. The goal is to improve infrastructure quality, potentially leading to better transportation and access to modern public services for citizens. The Bank will provide loans, guarantees, and equity investments, with a focus on rural areas.
Key points
A Federal Infrastructure Bank will be established to support the financing of construction and maintenance of roads, bridges, airports, ports, public transportation systems, water facilities, and other key infrastructure.
The Bank will provide loans, guarantees, and equity investments for projects that offer public benefits, with at least 10% of funds allocated to rural area projects.
Investors in the Federal Infrastructure Bank may receive tax credits, encouraging private sector involvement in public infrastructure financing.
The Bank is prohibited from accepting customer deposits or engaging in commercial banking activities, and its operations will be overseen by the Federal Reserve to ensure financial soundness.
Funding for projects outside the United States is prohibited, as is funding for projects owned, directed, controlled, financed, or influenced by the Government of the People's Republic of China, the Chinese Communist Party, or the People's Liberation Army.
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