Investment in infrastructure is long overdue as spending on infrastructure in relation to GDP has steadily dropped over the past decades, with most funding coming from state and local governments.
The American Society of Civil Engineers gave the U.S. a D+ average on our infrastructure. The highest rated was rail, which only received a B. Not only is infrastructure funding necessary to improve the system, investing in rebuilding crumbling infrastructure is a job creator and will boost the economy. Infrastructure has the second highest return on investment for the government.
- Delaney proposes raising the corporate tax rate from 21% to 25% and using the revenue to pay for investments in infrastructure.
- $1 trillion infrastructure plan over 10 years. Federal contribution of $250 billion with $750 billion leveraged from state/local governments and public-private partnerships.
- Create an Infrastructure Bank with $50 billion to invest in infrastructure projects including energy, water systems, transportation, and telecommunications.
- Increase the Highway Trust Fund by raising the gas tax
- New transportation and broadband infrastructure to encourage economic development in rural America and places left behind
- In Congress, Delaney pursued creative ways to use the tax code to fund the underfunded projects.