WASHINGTON — A bipartisan House duo has introduced legislation that would authorize up to $50 billion of tax-credit bonds to be used over six years to finance transportation infrastructure projects, mirroring a bill pending in the Senate and garnering support from lobbyists even as some question whether such bonds could overcome expected hesitancy from investors.
Reps. Ed Whitfield, R-Ky., and Leonard Boswell, D-Iowa, introduced the Transportation and Regional Infrastructure Project, or TRIP Bonds Act, on Dec. 19. The bill is identical to one introduced by Sens. Ron Wyden, D-Ore., and John Hoeven, R-N.D., in July. It aims to raise $1 billion for each state to use on a wide array of transportation projects over the next six years by authorizing each state’s infrastructure bank to sell taxable, tax-credit bonds, rather than more traditional tax-exempt interest bonds.