Invest in United States Act of 2014
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Workforce Protections.
Invest in United States Act of 2014 - Title I: American Infrastructure Financing Authority - Establishes the American Infrastructure Financing Authority (AIFA) as a wholly-owned government corporation that shall provide direct loans and loan guarantees to facilitate the construction, alteration, or repair of transportation, water, and energy infrastructure projects. Requires infrastructure projects assisted under this Act to have costs that are reasonably anticipated to equal or exceed $100 million ($25 million for rural infrastructure projects).
Establishes an Office of the Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of AIFA.
Prohibits financial assistance from AIFA for any private project for which no public benefit is created. Sets forth terms for loans or loan guarantees for eligible infrastructure projects and for the repayment of such loans. Requires an annual independent audit of AIFA finances.
Requires the Chief Executive Officer of AIFA to: (1) establish fees with respect to loans and loan guarantees that are sufficient to cover AIFA's administrative costs; and (2) take actions to make AIFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees.
Title II: Tax Credit Extensions - Amends the Internal Revenue Code to make permanent the new markets tax credit.
Build America Bonds Act of 2014 - Makes permanent the tax credit for investment in the Build America Bonds program.
Makes permanent the tax credit for research expenditures. Increases to 17% the rate of the alternative simplified research tax credit.
Exempts bonds for water and sewage facilities from the volume cap on tax-exempt private activity bonds.
Eliminates tax-exempt interest earned on private activity bonds as an item of tax preference for purposes of calculating the alternative minimum tax (AMT).
Title III: Skills Training - Amends the Internal Revenue Code to allow tax credits for: (1) the qualified training expenses of job trainees who have been unemployed for at least 90 days before enrolling in a training program, and (2) investment in a qualified job training partnership between a private business and an institution of higher education or a labor organization. Defines "qualifying training expenses" as an eligible trainee's qualified tuition costs, which may include costs for books and enrollment in a training program at an institution of higher education that may include a single course, multiple courses, or a combination of work training and study that is reasonably necessary for employment.
The summary continues for 9 more paragraphs. Read it in full on Congress.gov
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on January 28, 2014. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on June 13, 2014: Referred to the Subcommittee on Workforce Protections.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
RICHARD NEAL (D-MA) introduced it on January 28, 2014, and 1 member has since signed on as a cosponsor.
They are 1 Democrat.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on January 28, 2014, 4608 days ago. The most recent recorded action was 4472 days ago, on June 13, 2014.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers