LIFT Act

This bill would create a new type of taxable bond, called an American infrastructure bond, that state and local governments could choose to issue to pay for capital projects such as building or improving public property. The federal Treasury would pay the issuer a share of each interest payment: 42% for bonds issued from 2026 through 2030, dropping to 30% for bonds issued in 2033 and later. Projects paid for with these bonds would be subject to federal prevailing wage (Davis-Bacon) rules. The bill would also allow tax-exempt bonds to be used again to refinance older bonds in advance, under set limits, and would raise the small-issuer limit tied to bank tax rules from $10 million to $30 million, adjusted for inflation after 2026.

Full text and official record on Congress.gov

Sponsors

• Terri A. Sewell Democrat sponsor
• 0 cosponsors