U.S. Reps. Jackie Walorski (R-IN) and Earl Blumenauer (D-OR) have introduced the Move America Act of 2019 to the House, opening the possibility of extra financing possibilities for governments looking to fix aging infrastructure.
The proposal would establish a new form of bonds known as Move America Bonds that would give tax-exempt financing for public-private partnerships (P3s). It would also create Move America Credits to cheaper private equity investment for states.
“Our country’s infrastructure is falling apart and we are quickly falling behind our global competitors,” Blumenauer said. “The Move America Act supports billions of dollars of investments in much-needed projects around the country to restore the safety and functionality of all sectors of infrastructure. We can’t afford to wait.”
Airports, ports, transit, freight and passenger rails, roads, bridges, flood projects, inland and coastal waterway improvements, wastewater and sewage facilities, as well as broadband infrastructure, would all be eligible under the new bill.