Referred to the House Committee on Ways and Means.
Creates a new refundable credit to issuers of qualifying "American infrastructure bonds" that pays a percentage of each interest payment.
Defines eligible bonds, makes interest on such bonds taxable, applies Davis‑Bacon labor rules, revises advance‑refunding rules, and permanently raises and indexes the small‑issuer safe harbor for financial institutions from $10M to $30M.
Effective dates generally apply to obligations issued more than 30 days after enactment.
Substantive but narrow tax subsidy with both attractive infrastructure aims and significant fiscal exposure; success hinges on cost offsets and coalition building.
Relative to its intended legislative type, this bill establishes a well-specified statutory framework for a new issuer credit for "American infrastructure bonds," with detailed definitions, payment mechanics, refunding rules, and careful integration into existing tax provisions, while also including procedural conforming amendments.
Labor rules: liberals welcome Davis‑Bacon; conservatives view it as costly.
Labor rules: liberals welcome Davis‑Bacon; conservatives view it as costly.
Likely broadly supportive.
The direct credit to issuers can lower municipal borrowing costs and expand public infrastructure financing.
Davis‑Bacon coverage and exclusion of private‑activity bonds align with labor and public‑ownership priorities.
Cautiously favorable.
Provides a pragmatic federal tool to make local infrastructure cheaper and clarifies refunding rules.
Concerns focus on fiscal cost, complexity, and anti‑abuse enforcement.
Skeptical.
Views the refundable credit as a federal subsidy for municipal borrowing that increases taxpayer costs and federal involvement.
Opposed to Davis‑Bacon mandates raising project costs.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Substantive but narrow tax subsidy with both attractive infrastructure aims and significant fiscal exposure; success hinges on cost offsets and coalition building.
The bill has not accumulated any surfaced votes yet.
Labor rules: liberals welcome Davis‑Bacon; conservatives view it as costly.
Substantive but narrow tax subsidy with both attractive infrastructure aims and significant fiscal exposure; success hinges on cost offsets…
Relative to its intended legislative type, this bill establishes a well-specified statutory framework for a new issuer credit for "American infrastructure bonds," with detailed definitions, payment mechanics, refunding…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.