Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2023 Defined Contribution East
    • 2023 ESG Investing
Breadcrumb
  1. Home
  2. Infrastructure
January 29, 2020 03:37 PM

House Democrats float $760 billion infrastructure investment framework

Brian Croce
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Getty Images/iStockphoto

    House Democrats unveiled a five-year, $760 billion infrastructure investment framework Wednesday that aims to revamp the nation's roads, bridges and transit systems.

    Among the proposal's objectives, it would repair or update vital infrastructure, provide targeted funding for communities and set a path toward zero carbon pollution from the transportation sector.

    "It's past time for transformational investments to make our infrastructure smarter, safer and resilient to climate change, or else we will keep throwing money at an antiquated system that is only holding us and our economy back," Rep. Peter DeFazio, D-Ore., chairman of the Transportation and Infrastructure Committee, in a news release. "The framework we released today is the launchpad we need to move forward on those transformational investments and curb carbon pollution."

    The framework did not include information on where the money would come from to fund the investments.

    On Tuesday, Republicans on the Transportation and Infrastructure Committee outlined their infrastructure principles, which include reducing red tape in the project review and delivery process, addressing the long-term sustainability of the Highway Trust Fund and ensuring states have flexibility in determining where infrastructure dollars are spent.

    Rep. Sam Graves, R-Mo., ranking member of the Transportation and Infrastructure Committee, said in a statement that while he doesn't agree with all the principles in the Democrats' plan, he expects to play "constructive role in the development of infrastructure bills" before Congress this year. "Any serious effort toward enacting infrastructure legislation must incorporate Republican principles as well," he said.

    On Wednesday afternoon, the House Ways and Means Committee hosted a hearing on "paving the way for funding and financing infrastructure investments."

    Though Republicans and Democrats on the committee agreed the nation's infrastructure needs improvement, the two parties have different views on tax and environmental policy critical to passing legislation.

    "Historically, infrastructure and highway bills have been passed with broad bipartisan support — and for obvious reasons," Rep. Kevin Brady, R-Texas, the committee's ranking member, said in prepared remarks. "We need infrastructure, not tax increases on the American people or job-creating businesses. Proposals calling for the latter jeopardize any chance of attaining the former. We think our strong history of bipartisanship deserves better treatment than that."

    Rep. Richard Neal, D-Mass, the committee's chairman, said tax-preferred bonds are one of our most powerful tools for investments in infrastructure and highlighted the Build America Bonds program, which expired in 2010. He said BABs offered a more efficient way to support state and local governments' borrowing costs. "This financing tool allowed state and local governments to broaden their investor bases," Mr. Neal said. "This, in turn, allowed them to undertake bigger, bolder projects."

    In testimony before the committee, Philip Fischer, founder of eBooleant Consulting and former head of fixed income and municipal bond strategy, global banking and markets at Bank of America Merrill Lynch, suggested reviving the Build America Bonds program "to allow for financing of the pent-up infrastructure demand."

    Other witnesses, like Juong Lee, director of policy and government relations for the American Association of State Highway and Transportation Officials, said Congress should raise the federal gas tax to properly fund the Highway Trust Fund. The gas tax has not been raised since 1993.

    Related Articles
    Trump infrastructure plan offers $200 billion to spur $1.5 trillion
    Infrastructure, markets to be driven by policy
    Infrastructure, real estate to remain high on investor lists
    Recommended for You
    Teresa O'Flynn
    Ara Partners adds co-head of infrastructure strategy
    Michael Ryder
    Igneo Infrastructure Partners adds co-head of North America
    OMERSIrini K_CAN2484 1_i.jpg
    OMERS Infrastructure hires IFM exec to lead strategic partnerships
    The Institutional Investor's Guide to ESG Investing
    Sponsored Content: The Institutional Investor's Guide to ESG Investing

    Reader Poll

    January 25, 2023
    SEE MORE POLLS >
    Sponsored
    White Papers
    Show Me the Income: Discovering plan sponsor and participant preferences for cr…
    The Future of Infrastructure: Building a Better Tomorrow
    Outlook 2023: Opportunity in a volatile world
    Research for Institutional Money Management
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    December 12, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2023 Defined Contribution East
      • 2023 ESG Investing