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H.R. 2 of July 1, 2020
The following is a statement from Speaker Pelosi about H.R. 2, some of the key components, and the deficiencies.
The bill sent to the Senate give great focus to transportation and the migration to electric and hybrid vehicle adoption.
Assembled from various bills,t also addresses energy, schools, and COVID-19 testing
JULY 1, 2020 PRESS RELEASE
Washington, D.C. – Speaker Nancy Pelosi issued this statement on the passage of H.R. 2, the Moving Forward Act, House Democrats’ transformative infrastructure package For The People:
“Today, House Democrats have taken a bold step to move America forward, as we deliver on our For The People promise to increase paychecks by rebuilding America with green, resilient, modern and job-creating infrastructure by passing H.R. 2, the Moving Forward Act. I salute Chairman Peter DeFazio and all the Chairs of the Committees of Jurisdiction, and especially our Freshmen who have invigorated Democrats’ mission to revitalize America’s infrastructure.
“H.R. 2 takes bold, broad and transformational action to rebuild our infrastructure, while addressing key injustices in America, which have been laid bare by the COVID-19 crisis. We are proud that this legislation addresses environmental justice, including by investing boldly in affordable housing, expanding affordable high-speed Internet to underserved rural and urban communities, and ensuring that all have access to clean water. H.R. 2 makes a strong down payment in a clean energy future and solving the climate crisis, as we create millions of good-paying jobs and rebuild our highways, bridges, transit, rail, airports, ports and harbors to improve safety, reduce gridlock and put America on a path to zero pollution.
“We urge Leader McConnell and the GOP Senate to join the House in supporting this transformative legislation For The People. As Americans across the country come together to peacefully demand justice, equality and progress, the Congress must meet this moment by moving our country forward with real action.”
Description and Analysis
Generally
This is a $1.5 trillion proposal for infrastructure that was assemble from the work-product of various committees. It is 2,309 pages in length and covers transportation, electric-hybrid vehicles, energy, schools and addressing COVID-19 related matters. It was sent to the Senate on July 1, 2020 and like most House legislation landing on Senate Majority Leader Mitch McConnell's desk, it is DOA, notwithstanding Sen. McConnell's wife is the Secretary of Transportation.
It is heavily oriented to transportation. Given that it addresses electric and hybrid vehicles, the flow and priority to energy should have been the initial topic. Nothing per infrastructure and infrastructure projects happens unless/until the issue of clean energy is addressed and prioritize.
Financing relies heavily on taxpayers' money, revenue sharing/block grants. Priorities and implementation are lacking. There are many components though that financing could be achieved with P3 relationships using SPE/SPV where investors could acquire stock in these entities. Perhaps the role of the federal and state governments could be low interest loans or guarantees for these entities.
There are a lot of good ideas and hopefully partisan politics won't block them, rather both parties and bi-cameral some form a derivative can be realized and enacted, after a little massaging by the conference committee.
