Rep. John Delaney, D-Md., has introduced two pieces of bipartisan legislation co-sponsored by Republican lawmakers to rebuild infrastructure by encouraging U.S.-based multinational companies to repatriate the profits they hold abroad at reduced tax rates.
One of the bills, co-sponsored by Rep. Rodney Davis, R-Ill., is called the Partnership to Build America Act. It would create an American Infrastructure Fund to finance state and local infrastructure projects, capitalized through a one-time $50 billion bond sale to U.S. corporations looking to repatriate part of their international earnings. The fund could be leveraged at a 15:1 ratio to provide up to $750 billion in loans or guarantees to state and local governments for infrastructure projects.
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