Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • 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
    • Influential Women in Institutional Investing 2023
    • 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
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
  • Print
Breadcrumb
  1. Home
  2. Legislation
June 19, 2020 02:49 PM

House Democrats unveil $1.5 trillion ‘green’ infrastructure package

Hazel Bradford
  • Tweet
  • Share
  • Share
  • Email
  • More
    Rep. Richard Neal, D-Mass., at a news conference unveiling the Moving Forward Act at the U.S. Capitol in Washington on June 19, 2020.
    Bloomberg
    Rep. Richard Neal, D-Mass., was among House Democrats who pitched a $1.5 trillion plan to rebuild the nation's infrastructure.

    House Democrats unveiled a $1.5 trillion infrastructure package Thursday that addresses everything from roads, public housing and broadband to climate change and clean energy, as well as the need to get more Americans back to work.

    The ambitious Moving Forward Act would tackle the nation's infrastructure needs "in a green and resilient way," House Speaker Nancy Pelosi said a news conference Thursday, where House Ways and Means Committee Chairman Richard Neal, D-Mass., called it "the largest tax investment in combating climate change that Congress has ever made."

    Ms. Pelosi pledged to have the House of Representatives vote in it before the July Fourth recess.

    Though Senate Majority Leader Mitch McConnell said nothing would advance in the Senate, Ms. Pelosi noted: "There's tremendous interest among individual members and how it does affect their areas. ... We think this will be very nonpartisan" and "something that the president really wants."

    The biggest and most controversial piece of the proposal is a $500 billion legislative package approved Thursday by the House Committee on Transportation and Infrastructure. Known as the INVEST in America Act, it would tackle massive infrastructure rebuilding needs while also working to dramatically reduce greenhouse gas emissions from the transportation sector.

    Transportation and Infrastructure Committee Chairman Peter DeFazio, D-Ore., said at the news conference that the bill is "extraordinarily ambitious," as it seeks to apply parts of the Democrats' green new deal. He noted that "Republicans have been a bit critical" of provisions that tackle climate change, including tying state funding and projects to greenhouse gas emission goals.

    The package "proves that we can both deal with climate change and fossil fuel pollution and actually create millions of new, high-paying American jobs. That is the promise of this legislation," Mr. DeFazio said.

    The bill includes $100 billion for public housing, $25 billion for drinking water, $100 billion for broadband, $70 billion for clean energy projects, $100 billion for low income schools and $30 billion for hospital upgrades, among other provisions.

    It also calls for permanently reinstating Build America bonds to provide financing to state and local governments and spur private sector investment. Reinstating advance refunding and direct pay bond programs and expanding the private activity program "are critical tools for state and local governments financing their infrastructure," especially given their financial pressures related to COVID-19, SIFMA President and CEO Kenneth E. Bentsen, Jr. said in a statement.

    Related Articles
    House relief act comes with multiemployer changes – and controversy
    Infrastructure risk put to test with COVID-19
    Institutions don't all agree on infrastructure allocations
    Recommended for You
    Cory_Booker_i.jpg
    Sen. Booker introduces bill to restrict corporate control of farmland
    Ralph_Norman_i.jpg
    House Republicans introduce more anti-ESG measures
    capitol_washington-1550-main_i.jpg
    House passes bill to allow accredited investor status via test to access private markets
    CITs Poised to Shine Across the DC Stage
    Sponsored Content: CITs Poised to Shine Across the DC Stage
    Sponsored
    White Papers
    What a Fed pivot and ‘higher for longer’ mean for emerging markets
    A Guide to Home Equity Investments: The Untapped Real Estate Asset Class
    How to Modernize a School District Retirement Plan
    Q4 2023 Credit Outlook: Price Is What You Pay, Value Is What You Get
    There's More Than One Way to Be a Climate Investor
    Exploring the Commercial Application of Artificial Intelligence
    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
    October 23, 2023 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 Custom Content
    • 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
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • 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
      • Influential Women in Institutional Investing 2023
      • 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
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
    • Print