Political Quotes

“Exactly, which is a long discussion. But under the Partnership to Build America Act, the American infrastructure fund is capitalized by selling $50 billion of bonds, and we sell them to corporations; and they're not guaranteed by the Federal Government, so there's no taxpayer risk. For every dollar of those bonds the company buys, they can bring back a certain amount of their overseas earnings. We estimate that to be 4 to 1, but it's actually determined by an auction that will be done by the fund. So if $50 billion of bonds are subscribed to by some of the companies in your State, some of the companies in my State, Maryland--because the district I represent, part of the district I represent, Montgomery County, Maryland, has the 270 transportation corridor that is filled with information technology companies and biotechnology companies very similar to the kind of companies that are in your district, so some of them may be from Maryland as well. {time} 2045 But if they buy $50 billion of bonds, then they can bring back $200 billion from overseas tax free. The bonds, again, are nonguaranteed by the government, 50-year, 1 percent interest. So they're not an attractive investment. The ability to bring back that money tax free is the incentive for them to do it. They get to bring back money and invest it in our economy.…”