House Speaker Nancy Pelosi, D-CA, on Jun 18 announced additional details on Democrats’ comprehensive infrastructure package, the Moving America Forward Act, which includes several items of importance to public power.
The House Transportation and Infrastructure Committee recently completed consideration of the Investing in a New Vision for the Environment and Surface Transportation in America (INVEST in America) Act, a five-year surface transportation bill that would authorize $494 billion for transit, highways, and rail. On the evening of Thursday, June 18, the House Transportation and Infrastructure Committee approved the INVEST in America Act.
This will serve as the basis for the Moving America Forward Act, which will add several significant provisions, including on clean energy, tax, healthcare, drinking water, and broadband.
The Moving America Forward Act includes the following sections of importance to public power:
- $70 billion for clean energy infrastructure, including energy efficiency, grid modernization, and the development of an electric vehicle (EV) charging network;
- Reinstatement of the ability to issue direct payment bonds;
- Reinstatement of the ability to issue tax-exempt advance refunding bonds; and
- An increase in the small issuer exemption from $10 million to $30 million.
Pelosi said the House will take up the Moving America Forward Act before July 4.