The White House today released its long-anticipated plan for infrastructure rehabilitation and improvement.
Read Legislative Outline for Rebuilding Infrastructure in America [PDF 1.7 MB]
The plan is an outline of regulatory, federal funding, and tax proposals costing $200 billion and said to stimulate at least $1.5 trillion in new investment in infrastructure over 10 years. The plan would include traditional infrastructure—roads, bridges, airports—as well as water, energy, rural infrastructure, veterans’ hospitals, and Brownfields and Superfunds sites.
Much of the plan devolves responsibility for infrastructure improvement to the states. Among its incentives, the plan would allocate $6 billion in budgetary authority for modifications in the tax treatment of private activity bonds (PABs). The plan would broaden eligibility of PABs to new project categories, eliminate the alternative minimum tax preference, and remove state volume caps and transportation volume caps for public purpose infrastructure projects.
The plan does not include any other proposed tax changes.
Read a related “fact sheet” released by the Office of Budget and Management (OMB).
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