Sens. Ron Wyden (D-Ore.) and John Hoeven (R-N.D.) on May 3 introduced a measure that would expand the use of tax-exempt bonds and create a new tax credit aimed at increasing private investment in public infrastructure projects.
Known as The Move America Act of 2015, the measure would provide up to $180 billion in tax-exempt bond authority and up to $45 billion in infrastructure tax credits over the next decade to increase private investment in transportation projects.
The Senators said the legislation would not solve the nation’s infrastructure funding problem, but said “an injection of private capital” coupled with sustainable funding for transportation programs would boost America’s economic engine.
The most recent extension to current highway law expires May 31. Elected officials have yet to agree on how best to fund a long-term highway bill.
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