7 February 2019
Sens. John Cornyn, R-Texas, and Mark Warner, D-Va., introduced a bill to increase statutory cap on Private Activity Bonds to $20.8B to help state and local governments enter new public-private partnerships for surface transportation projects. The lawmakers unveiled the Building United States Infrastructure and Leveraging Development Act on Wednesday intending to boost the original statutory cap from the current $15B budget.
The BUILD Act would increase the amount of tax-exempt bonds the Department of Transportation provides for highway and freight improvement projects. Cornyn said allowing the government partner with more private companies in such infrastructure projects would reduce the cost to taxpayers.READ MORE