H.R. 5827: Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act

The "Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act" is designed to enhance the nation’s infrastructure, reduce greenhouse gas emissions, and stimulate economic growth through targeted investments. Key elements of the bill include:

Infrastructure Improvements

The bill outlines significant investments aimed at improving various infrastructure sectors. This includes funding for:

• Flood risk reduction infrastructure, focusing on safeguarding vulnerable flood hazard areas and critical infrastructure.
• Project eligibility requires ecological considerations, ensuring that environmental impacts are taken into account.
• Joint applications will be allowed for funding from local governments, promoting collaborative efforts in addressing infrastructure needs.
• Restrictions on federal funding for projects that may cause ecological damage, emphasizing the importance of sustainable development.

Greenhouse Gas Emissions Reduction

The bill seeks to address climate change through strategic investments and the introduction of potential taxes on emissions. It introduces:

• A border tax adjustment program that may be applied to industries based on their greenhouse gas emissions and trade intensity, contingent on administrative feasibility.
• Mandated annual reporting on sectors that are applicable for this tax program, promoting transparency and accountability in emissions reporting.
• Regulatory measures to ensure compliance with emissions targets, fostering a structured approach to emissions reduction.

Support for Displaced Workers

Recognizing the impacts that infrastructure transformation and emissions policies may have on employment, the bill includes provisions to:

• Support workers who may be displaced as a result of changes in industry practices aimed at reducing emissions.
• Establish programs for job retraining and placement, facilitating smoother transitions into new green job opportunities.

Establishment of a Climate Commission

The bill proposes the creation of a Climate Commission tasked with:

• Monitoring and advising on climate-related policies and their implementation.
• Collaborating with various stakeholders to ensure that measures are effective in combating climate change.
• Enhancing coordination among federal, state, and local agencies regarding climate initiatives.

Trafficking Definitions

In addressing issues related to trafficking, the bill clarifies terms related to trafficking, ensuring a clear understanding of key concepts. This includes definitions for:

• Federal banking agencies
• Severe forms of trafficking
• The Interagency Task Force to Monitor and Combat Trafficking
• Law enforcement agencies

Conclusion

The overarching aim of the bill is to modernize infrastructure while also addressing pressing issues of climate change, ensuring economic growth that is both sustainable and inclusive.

Relevant Companies

None found.