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 鈥渃utting-edge鈥 public-private partnerships and allow bond buyers to 鈥渞epatriate $4 dollars of overseas corporate earnings tax-free鈥 for every $1 they buy in infrastructure bonds.
The bill would create 鈥渁 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,鈥 Delaney said in a statement.
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