Rep. John Delaney (D-Md.) said Tuesday that he plans to introduce a bill in the next month to create an infrastructure investment office within the Treasury Department as well as a fund to make loans to states.
The plan would help states enter into “cutting-edge” public-private partnerships and allow bond buyers to “repatriate $4 dollars of overseas corporate earnings tax-free” for every $1 they buy in infrastructure bonds.
The bill would create “a path for some of the estimated $1.7 trillion of overseas earnings to return to our shores and further stimulate our economy while ensuring high-quality American jobs will be created in the process,” Delaney said in a statement.
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