Rep. John Delaney, an ardent advocate in the House for establishing an infrastructure bank, is joining fellow Democrats on a new task force that will examine proposals for funding infrastructure projects.
Launched this week, it is called the New Democrat Coalition’s Task Force on Infrastructure.
Delaney, of Maryland, will lead the group with Reps. Elizabeth Esty of Connecticut, Stacey Plaskett of the U.S. Virgin Islands, Norma Torres of California and Derek Kilmer of Washington.
“I am excited to work with my colleagues in the New Democrat Coalition to make the case for smart, fiscally responsible infrastructure investment,” Delaney said in a statement. “As a former entrepreneur, I am always an optimist, and I truly believe we can get a bipartisan deal done that creates good middle-class jobs, upgrades our infrastructure and improves our business climate. If we focus on the clear benefits new infrastructure delivers, we can avoid hitting political potholes.”
Delaney has proposed legislation aimed at establishing an infrastructure bank that would help finance projects at states and local governments. The bank also would encourage public-private partnerships.
Under the bill, funds for infrastructure projects would be raised through a bond sale and an international tax overhaul. Existing overseas profits accumulated by U.S. corporations would be subject to a mandatory, one-time 8.75% tax.
Revenue would be used to provide six years of Highway Trust Fund solvency. A bipartisan and bicameral commission would be tasked with developing a long-term fix for the trust fund.
