[Congressional Record Volume 156, Number 128 (Wednesday, September 22, 2010)]
[Extensions of Remarks]
[Page E1690]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         INTRODUCING THE AMERICAN INFRASTRUCTURE INVESTMENT ACT

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                         HON. ALCEE L. HASTINGS

                               of florida

                    in the house of representatives

                     Wednesday, September 22, 2010

  Mr. HASTINGS of Florida. Madam Speaker, I rise today to introduce the 
American Infrastructure Investment Act.
  Policies passed by the Democratic controlled Congress helped to begin 
pulling our economy out of recession. The Organization for Economic 
Cooperation and Development recently predicted it could be 3 years 
before the unemployment rate returns to its pre-recession level. My 
legislation extends a number of successful job creation programs that 
are set to expire. It is incentives like those included in this 
legislation that will help this nation and restore employment levels to 
what they once were.
  By providing federal support for private sector infrastructure 
investment, this legislation creates real jobs through investment in 
long-term sustainable economic development. These infrastructure 
investment programs are used to fund the construction of projects such 
as bridges, roads, schools and hospitals.
  Some communities in my district have unemployment rates as high as 40 
percent. If you were to go there and ask folks, I'm sure the answer 
would be, ``Yes, we need more jobs,'' and ``Yes, we want more of the 
programs that create those jobs.'' A project in Palm Beach County set 
to receive benefits from both the Recovery Zone Facility Bonds and New 
Market Tax Credits, two incentives extended under the American 
Infrastructure Investment Act, is responsible for 360 construction 
jobs, 300 permanent full-time jobs and $1.5 billion in gross regional 
product within the first 5 years. Legislation passed by Democratic-led 
Congress has directly led to the creation of 83,000 private sector jobs 
in June and nearly 600,000 private sector jobs this year.
  Build America Bonds are also extended under this legislation. Created 
under the American Recovery and Reinvestment Act, these bonds have 
allowed State and local governments to invest more than $100 billion in 
infrastructure projects nationwide and supported more than 1.7 million 
jobs. These are the very kinds of successful private investment 
incentive programs that the government should sponsor to kick-start the 
economy.
  Madam Speaker, make no mistake about it--job creation is my number 
one priority. I urge my colleagues to support this legislation and help 
create jobs that are desperately needed now.

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