Investing in America
Rep. DeFazio has introduced three bipartisan infrastructure proposals that are fully paid-for and would invest over $500 billion in the nation’s crumbling roads, bridges, transit systems, ports, harbors, and airports.
A Penny for Progress (H.R. 1664)
H.R. 1664, the“Investing in America: A Penny for Progress Act", would provides approximately $500 billion in infrastructure investment to improve the conditions of our nation’s highways, bridges, and public transit systems, address the federal underinvestment that has caused the current state-of-good-repair backlog, and meet future highway and transit needs through fiscal year (FY) 2030. To finance the additional investment, the bill authorizes the U.S. Department of Treasury to issue 30-year Invest in America Bonds annually, through 2030. Each bond will be repaid at the end of its 30-year term, using revenues from indexing the gasoline and diesel user fee beginning in 2017.
Rebuilding America's Airport Infrastructure Act (H.R. 1265)
H.R. 1265, the “Investing in America: Rebuilding America’s Airport Infrastructure Act”, would generate billions of dollars in much-needed revenue to rebuild America’s aging airport infrastructure, without raising taxes by a single cent. The bill would remove an outdated cap on the passenger facility charge (PFC), a per-passenger fee that airports may choose to collect to improve capacity, reduce noise, or stimulate competition among airlines.
Unlocking the Harbor Maintenance Trust Fund Act (H.R. 1908)
H.R. 1908 "Investing in America: Unlocking the Harbor Maintenance Trust Fund" would provide more than $18 billion in investment for our nation's coastal and inland harbors over the next decade without raising one more dime in taxes. The U.S. Army Corps of Engineers (Corps) estimates that full channels at the Nation’s 59 busiest ports are available less than 35 percent of the time. The Investing in America: Unlocking the Harbor Maintenance Trust Fund Act provides the necessary funding to dredge all federal commercial harbors to their constructed widths and depths, and maintain these harbors for the next decade, without adding a penny to the deficit.