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HR 2634 United States House · 117th Congress

LIFT Act

Summary
Local Infrastructure Financing Tools Act or the LIFT Act This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.
Issues: ✓ Budget & TaxesSupports Budget & TaxesAllows tax credit for infrastructure bonds, restores debt refinancing, and increases debt limits for small issuers - promoting fiscal responsibility in state/local budget management.90% confidence ✓ TransportationSupports TransportationBill enables infrastructure bond financing for transportation projects via tax credits and debt limits, directly funding road/highway infrastructure as core to its purpose.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Apr 2021
Committee Review
Floor Vote
President
Introduced Apr 16, 2021 Last action Apr 16, 2021
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Apr 16, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Apr 16, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of Terri A. Sewell
Terri A. Sewell
DDemocratic
AL
7
Co
Photo of Paul Tonko
Paul Tonko
DDemocratic
NY
20