New Federal Infrastructure Bank: Investing in Roads, Bridges, and Transport
This act establishes the Federal Infrastructure Bank to facilitate long-term financing for major infrastructure projects across the U.S., including roads, bridges, airports, and water systems. The goal is to improve infrastructure, potentially impacting daily commutes, access to services, and economic growth. The Bank will operate independently of government funds, and investors may receive tax credits.
Key points
Establishment of the Federal Infrastructure Bank to provide loans and guarantees for infrastructure projects.
The Bank will support the construction and modernization of highways, bridges, ports, airports, public transportation systems, water treatment facilities, and other critical infrastructure.
At least 10% of the Bank's funding must be allocated to projects in rural areas, potentially improving service access for residents in these regions.
Investors purchasing equity in the Bank may receive a tax credit, encouraging private financing of infrastructure.
The Bank and its holding company will be exempt from most federal and state taxes, facilitating their operations.
Prohibition on funding projects outside the U.S. and those linked to the Chinese government, Communist Party, or military, as well as entities from State Sponsors of Terrorism.
Introduced
Citizen Poll