One Democrat said the controversy showed the difficulty President Trump faces selling his plan to spur $1.5 trillion in infrastructure investment with an expansion of private activity bonds.
Different versions of the Tax Cuts and Jobs Act (the “Act") have been approved by the House and Senate, and the two chambers are conferencing to resolve the differences and send the final Act to the President by year end.
Some of the oomph for multifamily housing bonds comes from additional federal funding for public housing agencies which are partners in these bond deals while the remainder comes from programmatic changes in the law.
The newly updated Congressional Research Service report may be used as a resource by lawmakers if infrastructure legislation with private activity bond provisions is introduced.
Democrats are frustrated that President Trump's infrastructure plan would require state and local governments to come up with the majority of funds for infrastructure projects.
