David Price: “It is increasingly obvious what a sham of a tax plan the Republicans have proposed, slashing taxes on the superrich and…”

“It is increasingly obvious what a sham of a tax plan the Republicans have proposed, slashing taxes on the superrich and large corporations at the expense of the middle class. What is less well known, and what the Republicans don't want to talk about, is their proposal to repeal tax-exempt private activity bonds and, therefore, to kill the same public-private partnerships that they profess to support. States, local governments, and private partners around the country use private activity bonds to finance a wide array of infrastructure projects, like highways, airports, hospitals, water treatment facilities, and affordable housing. In North Carolina, for example, private activity bonds financed and upgraded the terminal at Raleigh-Durham International Airport and are being used by our State housing agency to attract investors for new multifamily housing developments worth more than $700 million. If Republicans get their way, these projects would die on the vine, and more than 6,200 units of affordable housing would simply disappear. How does that help working families realize the American Dream? At a time when funding for housing and infrastructure is continually squeezed, the last thing we should do is push through a plan that would hamstring our State and local governments and destroy our ability to leverage private investment. Mr. Speaker, I urge my colleagues to oppose the Republican tax plan. ____________________”