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GRIP/NIB Crucial to USA Budget & Future
September 1, 2023
It has been a little over a year since President Biden sign the Inflation Reduction Act (IRA) into law and adding the Infrastructure Investment & Jobs Act (IIJA) and the CHIPS act, groundbreaking has begun on a wide range of infrastructure projects. Activities for further infrastructure legislation is still occurring, although unfortunately it is necessary to do this at a much slower pace and without anything being made public.
This also made it necessary to not have updated this website or blog, because of an extortion campaign directed and funded by a USA bank, with a Russian money-laundering scheme involved, which has been reported and evidence provided to the FBI/DOJ. Updates on this website and infrastructure news provoked the bank, it's employees and it's lawyers to make threats and take other illegal actions, as part of their extortion campaign, to become then the sole owner of all assets related to infrastructure-financing.com.
All of this unfortunately made it necessary to move at a slower pace and to not attract attention, prompting the bank and their lawyer to increase the actions in their extortion campaign. We regret this since it prevented having an infrastructure financing plan, which doesn't raise taxes or the national debt, and where many (millions) taxpayers could have seen a 20% reduction in their federal income taxes by investing in a national infrastructure bank.
We did not wish to do anything to give ammunition or further motivations to the bank and it's co-conspirators, nor did we wish to complicate or compromise anything the FBI/DOJ may be doing. Infrastructure issues are a national security matter, which also made this matter even more sensitive. We also did not wish to do anything which would detract, distract, or diminish the lawsuit former President Trump has against the bank and it's lawyers, for preventing him from having an infrastructure plan. For further information about this, contact Mr. Michael P. McPherson (SAC FBI-Tampa), Mr. Michael D. McDermit (SAC FBI-Pittsburgh), or the bank's 'money-laundering and white-collar criminal defense attorney Mr. Cary Aronovitz, at his Miami office of Holland & Knight.
However, many issue and problems continue to exist, such as the IIJA has a CBO score of loosing $256B over 10 years, and after the June 6, 2023 agreement in Congress to raise the debt ceiling, the compromise was made to reduce spending. With the increase in the frequency, intensity, and costs of natural disasters, these CBO scored deficits, and congressional imposed budgets (spending) limits create major challenges and the potential of cutting or reducing much needed and popular federal programs.
Although no updates to this website or other visible actions have occurred, there has been much happening behind the scenes with President Biden and Congress (both parties and in both chambers).and given the need to have a budget passed in Congress by 9/30/23, with spending limits imposed by the June 5, 2023 debt ceiling agreement, we are making, available to download, our letters to President Biden, senior White House staff, and to Congress. Letters we've sent to the FBI/DOJ and letters we've received from the Biden Administration and Congress are not those we will make publi. You can download those letters below.
Effects of Inflation Reduction Act on GRIP/NIB
August 25, 2022
We were pleased to help Senator Manchin and Senator Schumer negotiate their agreement, which led to the congressional enactment and President Biden signing the $750B Inflation Reduction Act into law on August 16th.
This new law impacts the GRIP/NIB approach in two (2) main areas.
First, the tax deductions and credits for the migration to renewable energy is the first step in the GRIP/NIB approach as is shown throughout the Infrastructure-Financing.com website and most notably on the GRIP Project Categories page.
Secondly, it provides a minimum corporate tax rate of fifteen percent (15%). This sets the stage to make investments into the proposed national infrastructure bank (NIB) even more attractive to corporations, beyond repatriation of $4 trillion that corporations have off-shore for tax purposes. It also effects the $4.33T in public pension funds, which would be best invested in the NIB, given the stability of such an institution and also given that now Treasury Bills are averaging a three percent (3%) yield, which would be tax-exempt with the GRIP/NIB plan.
With these two key components now in place, in addition to what is already in process with the $1.2T Infrastructure Investment and Jobs Act (IIJA), the natural next steps are the formation of the NIB and the continuing of the development of the GRIP plan approach with the disbursement of investment funds in Public-Private Partnerships (P3) and the related creation of the Special Purpose Entities/Vehicles (SPE/SPV) for the effective and efficient financing and management of infrastructure projects.
Condensed Description of GRIP/NIB
June 2, 2022
To try to explain GRIP/NIB in the simplest terms, this is the condensed general descriptive narrative for GRIP/NIB, making it easier to explain with soundbite purposes in mind.
GRIP (Griffin Re-visioning Infrastructure Plan) is an economic development plan which contains a NIB (National Infrastructure Bank) as a place to make infrastructure investments, which are tax deductible and have tax-exempt interest earnings.
GRIP/NIB addresses many infrastructure needs, with priorities, such as deficit reductions and inflation, while also addressing many cultural issues. Using the GRIP/NIB approach, these projects and their priorities may be reviewed by clicking HERE.
Both the "Infrastructure Investment and Jobs Act (IIJA) and President Biden's "Build Back Better" (BBB) plan were scored by the CBO to have about 20% deficits each. $256B and $367B respectively. GRIP/NIB solves these deficits, while creating a potential investment pool over over $10T.
Below are the downloadable letters written to President Biden, Sr. White House staff and Congress.
Congress and Biden Administration Getting a GRIP
May 3, 2022
There have been significant developments and activities behind the scenes to replace President Biden's failed "Build Back Better" plan. We are very pleased to announce the GRIP plan is receiving a lot of enthusiastic attention and consideration in both houses of Congress, by both parties, and by the Biden Administration.
GRIP will take a different approach than the $1.2T bipartisan Infrastructure Investment and Jobs Act (IIJA) and the now defunct Build Back Better (BBB) plan, in that by using tax cuts, tax deductions, and other incentives, (available to the largest corporations and the smallest taxpayer investor) deposited into and managed by a newly created National Infrastructure Bank (NIB); infrastructure projects and creative programs addressing the needs, which were originally proposed in both the reduced $1.2T IIJA and BBB, can be financed with a much larger funding pool (over $11 trillion), without raising federal taxes or the National Debt.
Why wasn't the GRIP plan publicly mentioned in the news during the legislative processes of IIJA and BBB?
Similarly behind the scenes, there is a lot of activity and attention being given to what has prevented the GRIP method from becoming public knowledge, a political consideration/issue, and enacted legislation; previously dating back to the Trump Administration and the 116th. Congress. These are not public at this time, given they involve law enforcement, who will make their own announcements at the appropriate time.
Albeit these behind the scene and under the radar activities are yet to be public, they soon will be and they will dominate the news cycles during the primary elections and the general midterm elections.
This is because the biggest obstacle to the enactment of a new plan (GRIP) has been an extortion campaign to make GRIP the exclusive use of a bank, their lawyers, and others in relationship, to further a Russian money-laundering scheme involving a large USA bank, their employees, and their attorneys.
The bank and those in relationship to it will soon be publicly identified and labeled as "Putin's nervous comrades". The bank has already hired a former assistant U.S. attorney, who is now a partner in a very large 1,600 attorney international law firm (Holland & Knight), who has as his specialty "money-laundering and white-collar criminal defense". For more information and commentary regarding this legal matter and related forthcoming scandal, contact the bank's money-laundering and white-collar criminal defense attorney Mr. Carey Aronovitz at his Miami, FL office (306) 374-8500.
The Russian money-laundering scheme and the extortion campaign to further and amplify it is about to be publicly exposed as part of the Russia-Ukraine matter and also concurrently and in tandem to the announcement of the replacement plan for President Biden's "Build Back Better" campaign. This development is not a favorable or flattering for "Putin's nervous comrades" and all in relationship to them.
Since the invasion of Ukraine by Russia, the Biden Administration has imposed the most severe economic sanctions ever issued on Russia, Putin, and his oligarch friends. Likewise, during his 2022 State of the Union Address, President Biden announced he was going to order the U.S. Department of Justice to form a task force to seize Russian assets, enforce the economic sanctions, and to investigate and prosecute Russian money-laundering.
On March 16, 2022 Assistant Attorney General Lisa O. Moraco did indeed form the task force composed of highly skilled and experienced prosecutors under the leadership of Mr. Andrew Adams. Other countries have also begun seizing Russian assets and investigating/prosecuting Russian money-laundering.
As the result of all of these rapidly developing factors, the news stories regarding GRIP and the extortion campaign to further and amplify the Russian money-laundering campaign will soon permeate the news cycles. In addition to the national public outrage, the news of what prevented GRIP will greatly increase the public's demands that GRIP to be enacted and put into practice, including the creation of a National Infrastructure Bank (NIB), with "Putin's nervous comrades" becoming the poster-child reason for the need of an NIB.
Even former President Donald J. Trump will amazingly agree with President Biden, because former President Trump will have a very legitimate and verifiable public proclamation that had it not been for the extortion campaign and Russian money-laundering scheme, he would have had an infrastructure plan and methods to finance it, without raising taxes and the National Debt, which would have easily led to his successful re-election.
For any comments about this matter and how it may be shown the extortion campaign to amplify and further the Russian money-laundering scheme prevented former President Trump from having an infrastructure plan, for which he was ridiculed and the absence of such a plan may have effected his successful re-election, direct all questions and inquiries to former President Trump and his lawyers, attorneys: Peter Ticktin, Jamie Allen Sasson, Ms. Shaina Vanhehren (Ticktin Group), and/or Attorney John F. Haley, Partner Nelson, Mullins, Riley, & Scarborough.
Albeit the form GRIP takes in the process of it's enactment may change slightly from what is published on this website, certainly during an election year, the fundamental elements of GRIP will remain intact, as the result of it's firm foundation and the product of the public outrage, regarding the extortion campaign to further the Russian money-laundering scheme, which prevented former President Trump and impeded President Biden and both houses and both parties in Congress.
Given these revelations and actions are imminent and in the near future, more has been published to this website regarding the details of the GRIP plan. These may be viewed under the "GRIP Plan" menu on the Infrastructure-Financing.com and all of it's other 36 related domain names and websites in the Infrastructure-Financing.com cluster..
Life After Death of "Build Back Better"
March 4, 2022
"Build Back Better" (BBB) has not only stalled in the U.S. Senate, it is now dead after the objections of WV Senator Joe Manchin, Chairman of the Senate Energy & Natural Resources Committee.
Although this evokes consternation in many, it may prove to be for the best, given that the plan sent to the Senate by the House of Representatives had a deficit CBO score of -$367B over 10 years. This deficit is in addition to the deficit CBO score of -$256B over 10 years of the Infrastructure Investment and Jobs Act (IIJA), which President Biden signed into law and is now under the management of former New Orleans mayor Mitch Landreau has already begun distributing money to fund projects, in the energy and water systems components.
There is only one way to enact the elements of "Build Back Better", cover the deficit of both BBB and the IIJA, which totals deficits of $623B over 10 years..
The only viable solution now remaining is enacting the GRIP approach to financing, create a National Infrastructure Bank (NIB) and then distribute through Public Private Partnerships (P3s) to communities and Special Purpose Entities, also known as Special Purpose Vehicles (SPE/SPV). With tax law changes, it is possible to raise $4T from the repatriation of corporate off-shore money, $4.33T from public pension funds, and perhaps another $2T from other investment sources, who open accounts in the newly formed National Infrastructure Bank.
The USA has previously had four (4) NIB in our history. They were under the Washington, John Quincy Adams, Lincoln, and FDR administrations. Each NIB created the necessary funds to finance infrastructure projects, bolster domestic manufacturing, and each led to a period of economic growth and prosperity.
Congress will take up the measure of infrastructure again sometime this Spring, but this will compete with news media attention created by the Select House Committee on 1/6 and the mid-term elections primary process.
It may prove true that Congress and the Biden Administration will see the only option is to adopt the GRIP method, create a National Infrastructure Bank, address the existing $623B in deficits, and this may prove to be a campaign issue by both Democrats and Republicans. Hopefully bipartisanship will rule the day and the necessary legislation will be enacted and signed into law by President Biden.
Infrastructure/Jobs Bill Now Law. Only BBB Remains
December 1, 2021
Now that President Biden signed the $1.2T infrastructure/jobs plan into law, only the 'Build Back Better' plan remains. Only problem is that like the $1.2T plan, BBB has major deficits and deficiencies..
Below is what I sent to the U.S. Senate on December 1, 2021; after President Biden signed the $1.2T plan and the House of Representatives has now passed the $1.75T Build Back Better plan, awaiting changes and votes/passage in the U.S. Senate..
Democrats
Hon. Charles E Schumer, Majority Leader
Hon. Bernie Sanders, Chair (Budget Committee)
Hon. Ben Cardin, Chair (Transportation & Infrastructure Committee)
Hon. Maria Cantwell, Chair (Commerce Committee)
Hon. Ron Wyden, Chair (Finance Committee
Hon. Joseph Manchin, Chair (Energy & Natural Resources Committee)
G.O.P
Hon. Mitch McConnell, Minority Leader
Hon. Linsay Graham, Ranking Member (Budget)
Hon. Keven Cramer, Ranking Member (T & I)
Hon. Roger Wicker, Ranking Member (Commerce)
Hon. Mike Crapo, Ranking Member (Finance)
Hon. John Barrasso, Ranking Member (E & NR)
Re:
1. Total of $623B in Deficit Spending with Infrastructure Plan and Build Back Better;
2. Need for Establishing an 'Infrastructure Bank'; and
3. Paying for Infrastructure with Tax-Cuts/Deductions & Repatriation of $4T of Corporate Off-shore money, Other Revenue/Investment Sources, and tax credits/deductions for the Middle-class taxpayers, who invest in infrastructure projects in a Public-Private Partnerships through Special Purposes Entities (P3-SPE/SPV)
Dear Senators:
I have written all of you multiple times over the past two (2) years regarding the subject of infrastructure and it's financing. The record is abundantly and patently clear I have been bipartisan/non-partisan from the very beginning and I have consistently done so at all times, including now.
I have given you and your staffs an abundance of information and assistance and as the $1.2T bipartisan plan has been passed and signed into law by President Biden, the currently proposed $1.75T “Build Back Better” (BBB) social systems infrastructure plan remains. I have done so with what I call the “Pragmatic Principles of Positive Politics”.
This leads to the problem I have advised since I have first contacted you. With both infrastructure related plans, the numbers simply do not add up, there exists profound inflation risks, and there will be major deficits. The CBO has confirmed what I have long warned and I have consistently predicted.
The $1.2T infrastructure plan has been scored by the CBO to have a deficit of $256B over ten (10) years. The CBO has also scored the $1.75T BBB plan with a $367B deficit over the next 10 years, which is then a combined deficit of $623B over 10 years for both infrastructure related plans. How can you have an economic development plan that has a negative CBO scoring and loss of -623B (-21%)?
President Biden's Administration has argued that increased IRS enforcement will reduce the $367B deficit of BBB, however, let us all be honest and rational that corporations with teams of accountants and tax lawyers will simply find other deductions to avoid paying the taxes to fund BBB. Likewise there exists no provisions, safeguards and oversight to prevent waste, fraud, and abuse at the local levels. This leads to what I have consistently said and shown to be the only reasonable solution.
There is no other option or solution to cover these deficits and implementation deficiencies other than the creation of a federal infrastructure bank, in tandem with the existing Federal Reserve Bank. This is needed to be a depository for additional revenue sources (CBO confirming necessary) and also to exercise the stewardship required in the disbursement of funds. There also needs to be standards to measure the success and monitor the disbursement of funds with infrastructure projects.
I have identified and shared with you and your staffs potential investments of $4T of corporate off-shore money, $4.33T from public pension funds, and another $2.7T (minimum) from other sources such as private equity groups. This is a total potential investment pool of $11.03 trillion. This is over 3.5 times available funds as much as both the existing Infrastructure & Jobs Plan and BBB combined.
Therefore, this is more than enough to meet the infrastructure needs of the USA, while also supplying a surplus to take advantage of China's BRI plan, now reduced by 80%, due to the economic conditions in China, which has arisen from their mistakes with infrastructure investments.
You are going to need to add the 'infrastructure bank' back into the BBB plan, after it's removal from the $1.2T infrastructure plan, now enacted by President Biden. This will satisfy the issues raised by Senator Manchin and also gives no excuse to the Republican members of the senate to not get on board, advocate, and eagerly vote for such an approach. They may even find former President Trump to agree.
To spur investment in the 'infrastructure bank', changes in the tax code are necessary. You need to make all investments/deposits into the 'infrastructure bank' to be tax deductible and the interest earnings (on a par with the benchmark 10-year Treasury Bills) to likewise be tax exempt, similar to what exists with investments into lease-purchase agreements for public projects. 26 U.S.C. §103. This will make these accounts interchangeable with Treasury Bills.
I have long preached this to you, President Biden and his administration, equally as I did with the 116th. Congress and the Trump Administration. If you still aren't sure I'm correct in all of this, simply ask the CBO, or sharpen your pencils and simply do the math.
Since the passage of the $1.2T infrastructure/jobs plan, I have made updates to Infrastructure-Financing.com. You may wish to review these and likewise have your staffs to do the same.
These changes include the need now for you and the House of Representatives to establish an infrastructure advisory-board, to help with the creation of the infrastructure bank and to work with you, your staffs, and the Biden Administration to identify and codefy the necessary changes to the tax code, to induce investments. The structural foundation needs to be Public-Private Partnerships (P3) using Special Purpose Entitities (existing or created) to establish a P3-SPE/SPV platform. I have written to you recently about this and the CBO numbers now prove me to be correct.
Senators, there is no other way. It is either do it now, or do it later and with such a delay find that you need to do it as an emergency measure.
Most respectfully;
Will Griffin
Imperative for Infrastructure Bank
October 21, 2021
As predicted a month ago and even prior to this, both of the infrastructure plans are now stalled in congress. Why? Because petty partisan politics are permeating the traditionally bipartisan/non-partisan issue of infrastructure. Argument continues even regarding what is defined to be infrastructure, so little wonder they are having a difficult time figuring out what it is they are funding with tax dollars. (See: GRIP Categories)
The only way that a cost-effective comprehensive infrastructure plan is now possible is by doing the following:
- Define infrastructure into basic groups and categories as may be viewed at GRIP Project Categories;
- Establish a bipartisan/non-partisan infrastructure advisory board, composed of professionals and former federal officials to work with both house and parties in Congress and with the Biden Administration;
- Create an infrastructure development implementation plan with priorities, milestones, timetables, and costs;
- Establish an "Infrastructure Bank".
Currently, congress and others just don't seem to get it. Without these four (4) elements in place, there is no infrastructure plan going to deliver the "bang for the buck", and a comprehensive plan is an impossibility. In short, the infrastructure plan itself really doesn't have an infrastructure.
The G.O.P. refuses to participate or agree to enact any legislation for infrastructure and economic development, beyond those 19 G.O.P. votes in the $1.2T senate bill, and the democrats are feuding among themselves per the moderates and the progressives. From the perspective of the voters/taxpayers, watching these disputes is akin to a cat watching a ping-pong match, or two monkeys fornicating with a football.
Everybody has an agenda. There is even the Biden Agenda, which conflicts with the disciples of the Trump Agenda. The G.O.P. have an agenda and the Democrats have an agenda. The progressives have an agenda and the moderates have an agenda. Why hasn't someone proposed the "American Agenda"?
There is also a branding problem due to these rigidly defined "agendas" regarding the issue of infrastructure, which itself does not have a standardized definition.
The voters/taxpayers can really only define and identify the two infrastructure plans (brands) by their costs, $1.2T and $3.5T (and falling) and aren't quite sure what programs and benefits is in each. There are those who have their agenda that $3.5T should go up to $10T, but do not have an implementation plan.
Also regarding the branding, "Build Back Better" has a similar message feel as "Make America Great Again". As though the goal is to restore to an era and economy that just would not work in the current situation, with the only thing progressing is technology, which other countries (emphasis China) embrace and they are adapting into their own infrastructures.
If you're going to use a slogan to define a goal for the future, why not use a slogan expressing more positive and enthusiastic forward thinking? How about "Rebirth, Renew, & Revitalize", if someone feels the need to have a reference point to a bygone era? I kinda of like "Forging Our Foundations" plan, even though to capsule my own input and just have something as a placeholder I grabbed "Time to Get a GRIP".
Plus, who wants to go back, while the world moves forward? We never had a renewable energy era, a broadband era, a 1950's e-commerce economy era, or a high-speed rail era. The era some wish to return to is the era we built and better maintained the roads, bridges, water systems, and other infrastructures. Then we ignored these structures for decades and let them deteriorate to unsafe and unusable conditions. If 'use to be' was so great, why did we take it for granted and ignore it?
With tax code changes, there is plenty of money available to finance all of our infrastructure needs. ($4T of corporate off-shore money repatriation, $4.33T public pesnion funds, and $2.7 Consumer-hoarded from C19, all equaling $11.03T, without raising federal taxes and national debt)
It is only hoped that as Congress and others continue with their processes that they see the problem with their infrastructure plan is that it really has no structure, nor is a clear vision defined, and the four (4) necessary infrastructures for an infrastructure plan are recognize as a long missing starting point, to even define the vision. And "Where there is no vision, the people perish". (Prov. 29:18)
Both Infrastructure Bills in Peril
September 26, 2021
Albeit infrastructure has been traditionally a bipartisan/non-partisan issue, politics may doom both bills. The G.O.P. is pretty much a flat "NO" on both and the progressive and moderate wings of the Democratic Party are at odds.
The focus on the $1.2T Bipartisan Infrastructure Bill (CBO scored it with a $256B deficit over 10 years) and the Budget Resolution has been the $3.5T costs, without giving much detail of where and how the money will be spent. This is an extension of a problem that has yet to be solved. Namely, what constitutes and is defined to be infrastructure.
The Biden Administration and Congress have four (4) basic tasks to complete, to enact a successful infrastructure plan.
- Define infrastructure into basic groups and categories as may be viewed at GRIP Project Categories;
- Establish a bipartisan/non-partisan infrastructure advisory board, composed of professionals and former federal officials;
- Create an infrastructure development implementation plan with priorities, milestones, timetables, and costs;
- Establish an "Infrastructure Bank".
These four items have been missing in the negotiations resulting in the tandem infrastructure bills and all previous, which is why no successful comprehensive infrastructure package has yet to be achieved.
The Biden Administration and Congress (both houses and both parties) are aware of this and we'll see how long it takes before they recognize the obvious. Perhaps they'll have their epiphanies tomorrow or at some point in the near future.
Both Bi-Partisan and Democratic Resolution Infrastructure Pl
July 14, 2021
On July 13, 2021 the Senate Democrats announced that the $3.5T infrastructure plan passed out of the Senate Budget committee, which covers the areas, notably for families, child care and care for the elderly/disabled, not included in the Senate Bi-partisan plan agreed to in framework on June 24, 2021
The June 24th. agreement framework was for $974B, with $579B in new spending. These expenditures include what most consider as traditional infrastructure with projects such as roads, bridges, public transportation, water, and broadband. To see more information regarding the framework of this agreement, please visit: WhiteHouse.gov/briefing-room
Both bills are initiated in the senate, with the house awaiting and maneuvering to pass both bills almost simultaneously.
It is hoped that much work can be completed on these, prior to the August recess congress has annually until after Labor Day, however, Sen. Majority Leader Chuck Schumer has said that he could hold the senate in session into the August recess.
Still the issues for both bills remains how to pay for them (financing) without large tax increases and a pragmatic implementation plan.
President Biden Announces Infrastructure Plan
April 2, 2021
On Wednesday, March 31, 2021 President Biden announced his infrastructure plan in Pittsburgh, PA, hometown of GRIP plan developer William T. Griffin.
President Biden will make the second part of his plan announcement in the next few weeks and it is believed to be before a joint session of Congress. Both parts are contained in the GRIP plan and more information can be found on our Types of Projects page on this website.
Congress needs to vote on the plan. The target date for this to be on or before July 4, 2021 "Independence Day". Many in Congress, notably leadership, along with the chairs and ranking members of key committees, are aware of the GRIP plan and it is hoped that after discussion and changes developed through committees reviewing President Biden's "Build Back Better" and GRIP Plan, successful passage and signing into law by President Biden of the final form of the GRIP Plan is achieved.
To download the complete list of members of Congress, the Biden Administration, and others, who have knowledge of the GRIP plan and interactions with William T. Griffin, simply CLICK HERE
Correspondences with these decision makers will continue, therefore they have no excuses for not having the answers and solutions, whether asked by their constituents, or members of the Press/Media. There exists an extensive paper-trail of who knew what and when they knew it.
Already issues of concern and objections (based upon flimsy politically-motivated excused) have been stated on TV news programs, newspapers, and elsewhere. These will no doubt continue and prove to be the basis of political and public embarrassment for some, due to the existing paper-trail.
It is both hoped and anticipated that the GRIP plan (or variation based upon it) will pass Congress, along with the methods of financing, including tax cuts extended to the middle-class taxpayers investing in infrastructure projects, and the implementation part of the GRIP Plan, and these will also pass Congress with a large numbers of enthusiastic votes.
Members of the Press/Media, both TV and print, have been made aware of the GRIP Plan. Many have been made aware of it for some time, monitoring the political processes. All are aware of this website published Press Release.
GRIP Method Financing of Biden's "Build Back Better" Plan
February 22, 2021
For over three (4) years we have interacted and lobbied Congress regarding our method/plan to finance infrastructure projects, without raising taxes and the National Debt.
In fact, those who invest using the GRIP method would enjoy not only tax deductions, but also tax-exempt interest earnings, using existing tax laws and some changes, additions, and amendments to Title 26 tax code and Title 12 (Banking) of the U.S. Code.
The economic impacts of the COVID-19 pandemic have given new focus to infrastructure projects as a vehicle for creating jobs and recovering/restoring the economy.
President Biden has pledged an infrastructure plan to achieve these goals, which is yet one more infrastructure plan proposed by an administration and/or by Congress. The issue still remains, notwithstanding even greater bi-partisan/non-partisan support under the current economic conditions, is how to pay for these.
Due to the current pandemic related economic condition, there is some need to apply Kinseyian Economics principles & practices does exists, as it did FDR with his New Deal, and these must be viewed as investments, with anticipated returns on investments or otherwise economic multiplier effect needs to be calculated.
Combining FDR's "New Deal" with the "Green New Deal" objectives to create jobs to begin to migrate to renewable energy sources has benefit beyond domestic economic issues. These types of projects also need addressed for national security and economic competitive edge with China's Belt & Road Initiative (BRI) infrastructure projects they have taken for global competitive edge and geopolitical influence.
Still, the use of tax cuts, albeit seemingly contradictory and counter-intuitive, needs to be the foundation of local financing of infrastructure project through Public Private Partnerships (P3) establishing special purpose entities or vehicles (SPE/SPV) coop-corporation supervised by local boards. By doing so limits bureaucracy, bureaucratic costs, other costs and losses, including those from waste, fraud, abuse, and corruption.
Given President Biden's "Build Back Better" is such an ambitious undertaking (synonymous with expensive - $4T), we have already identified $4T of corporate off-shore money, which can be repatriated with tax incentives, if invested in infrastructure.
There is also a pool of potential investment coming from public pension funds ($4.33T), $2.6T of savings as result of pandemic quarantine and business slowing, and a yet to be determined amount if the tax code were changed to give up to a 20% tax deduction for those who invest their withholding in infrastructure projects and 13-week or 1-year T-bills.
Initially we had ROI on GRIP investments to be tied to the 10-year Treasury Bill benchmark (about 2,5% - 3.0%) and this earnings to be also tax-exempt, however, the 2017 Trump Tax Plan, which gave $2T in tax cuts to corporations (who used it to buy back their stocks to increase their price) reduced this potential ROI, as did the narrowing yield curves in Treasury Bills, and plummeting interest rates. The economic impacts of COVID-19 and it's mismanagement did the rest.
The 10- year benchmark is currently at 1.37% up from a low of .536% on 7/1/20 (A 35 year low). The 13-week T-bill yield currently is at .025%, down from a high on January 1, 1989 of 8.9% Thus opportunities exist with low interest rates and also for greater future earnings as the economy and interest rates recover.
On a bi-partisan/non-partisan basis, we are continuing to pursue congress and now the new Biden Administration to combine the GRIP Plan with Build Back Better, since they are similar in many ways and the conditions are now right (economically & politically) to use the GRIP method to finance infrastructure projects, create jobs, restore the economy and do so without increasing federal income taxes and the National Debt.
Is PG&E Infrastructure Poster Child?
Bankrupt and Having to Cut Power Service to Prevent Fires.
PG&E found it necessary to disrupt power transmission to 2 million customers, because their 100 year old transmission lines are fire hazards, notably during the Santa Ana winds season.
PB&E currently is in Chapter 11 Bankruptcy, due to the liabilities for previous fires.
The company rebuffed the City of San Francisco's offer of $2.5B for the part of the company that services the city. However, the bankruptcy judge, Dennis Montali, ruled that PG&E does not have 100% control over their fate and that others, notably fire victims, have their say.
We are looking at several options regarding PG&E, using GRIP methods, and we have begun contacting the appropriate persons to proceed.
Implementation of GRIP Amended
October 10, 2019
For over three (3) years we have interacted and lobbied Congress regarding our method/plan to finance infrastructure projects, without raising taxes and the National Debt. In fact, those who invest using the GRIP method enjoy tax deductions and tax-exempt interest earnings, using existing tax laws.
As the matter of the scandal of the impeachment of Donald J. Trump is going to permeate the political discourse and consciousness up to next election day, I now find it necessary to amend the approach of my implementation of GRIP.
I have contacted the banks, private equity groups, bond brokers, financial advisers and others that I will begin the process of referring investors to these licensed financial entities.
I am also going to reach out to several communities/projects and we put their infrastructure project plan together, to cover financing, legal (compliance), construction and all facets of a well-managed infrastructure project and/or community development initiative.
I'm also going to increase the website visitor traffic at Infrastructure-Financing.com, by re-directing the DNS of all of the other domain names/websites we own to the appropriate page on this hub website, and by other means on online marketing and promotion.
Whether you're an investor, investment firm, bank other fiduciary entity, or a community looking to finance your infrastructure projects, you will find more information and updates at Infrastructure-Financing.com
Issues to Immediately Implementing the GRIP Approach to Infrastructure Financing.
August 8, 2019
In response to the inquiries regarding participating in GRIP, a few developments and issues have been repeatedly asked, which are the product of the visitors to Infrastructure-Financing.com; their questions, their cares and concerns; as they learn more and consider the GRIP approach..
As stated previously, politics, political parties, and politicians are not impediments to the implementation of GRIP. This is because political support for improving and expanding the nation's infrastructure is bi-partisan, both House & Senate, and generally non-partisan. Given that 59% of voters wish for infrastructure to become a more discussed issue and that the 2nd. Democratic Debate in Detroit did have discussion of the water issues in Flint, MI; the issue of infrastructure is growing.
Reflecting this growing interest in infrastructure issues, many visiting Infrastructure-Financing.com have written for further information. The inquiries (politicians, municipal leadership, corporations & general taxpayers) fall into three main categories:
- How and where to invest into tax-deductible and interest tax-exempt accounts, and
- Questions from counties and municipalities on applying for funds and participation, how payments are processed, etc.
- Federal, State & Local Legislation, Laws, Rules and Best Practices.
Investing into tax-deductible and interest tax-exempt accounts:
Although there have been average taxpayers, wondering which banks are participating in GRIP, a surprising number of the inquiries from companies (163 of them) regarding repatriating off-shore funds that are tax-exempt have occurred.
Currently there are no USA based banks, private equity firms equipped and tooled to process the GRIP approach and the financial advisers likewise have little or no knowledge regarding investing in infrastructure projects, except with a very few with rudimentary knowledge of municipal bonds.
This brings up some of the obstacles needing addressed:
- GRIP accounts will need to be separate from other forms of savings accounts, therefore they will need to be treated with a 'bank within a bank' approach.
- It is not known if it is best to initiate GRIP with banks and financial advisers who already have a national footprint, (i.e: Wells Fargo, Bank of America, JP Morgan/Chase, Citicorp, et. al.), or with the existence of online banking, even regional banks in states where the depositor resides is possible and an option.
- Whoever is the institution receiving deposits and making infrastructure loans, they must be chartered and monitored for compliance with federal and state banking laws and best practices required of lending institutions and financial advisers, who have statutory requirements for compliance to fiduciary responsibilities.
- A major national bank, with existing staff, branches, and other "infrastructure" for investing may be the best and most efficient option to expedite the implementation of the GRIP approach to infrastructure investing and financing, in a 'turn-key' approach, using the methods, websites and other resources found with GRIP and Infrastructure-Financing.com.
- Wells Fargo has an implementation/participation obstacle in that the Federal Reserve Bank has capped/restricted their growth to $2 trillion, therefore, receiving just the repatriated off-shore corporate money appears to be a significant barrier. It is rumored, with compliance to the changes they have made, which resulted from their unauthorized accounts creation scandal, that WFC may have these Federal Reserve Bank imposed restrictions lifted by the end of 2019.
- Bank of America sent GRIP Founder Will Griffin an unsigned form letter, stating that they had or were in the process of implementing accounts and investment products specific to infrastructure financing. However, this has been true now for over two (2) years and with a recent inquiry, it was found BoA has no such infrastructure financing approach, similar to GRIP.
- Inquiries to Wells Fargo Advisers (WFA) and BoA's Merrill Lynch, found that their consultants were well versed on products like IRA, 401K, and stocks, but little about municipal bonds and nothing relating to the GRIP approach. Both were correct that long-term stock investments in infrastructure materials providers (steel and concrete companies) and heavy equipment manufacturers were wise with the growing infrastructure issue; but beyond this they had very little or no knowledge of municipal bonds, Public-Private Partnerships, SPE/SPV, 26 U.S.C. § 103 lease-purchase programs or anything similar; much less something as comprehensive as the GRIP approach.
- The lack of investment knowledge as it relates to the GRIP approach by no means is insulting, detracting or demeaning to WFA or Merrill Lynch, or for others. What they know of the traditional retirement investment products was sound and consistent with industry standards, knowledge, and common industry accepted and practiced standards. Please Note: When GRIP Founder William T. Griffin first mentioned his research and ideas (the product of finding financing for fire departments, police departments and small infrastructure projects) in 2004 to his own father William F. Griffin (a certified financial adviser and founder of his own Griffin Financial Services), the elder Mr. Griffin had the same investment industry knowledge and investment approach as WFA, Merrill Lynch and others,
- It is now obvious with the interest of taxpayers to invest and corporations wishing to immediately repatriate off-shore money and pay no taxes, coupled with the urgency to immediately begin infrastructure projects, that implementation may be most efficiently realized by one (1) bank acquiring GRIP, it's methods & processes, and domain-names/websites, to then also offer workshops/seminars/training to other banks and financial advisers. Again a national bank already has this brick & mortar, federal reserve connections and staff 'infrastructure' to implement and to train others.
- With the GRIP implementation, standards need to be set for not only compliance to banking laws and best practices, but also to prevent investments into non-yielding, low-yielding, and difficult investments/loans; or the potentials for a situation similar to the "Sub-Prime Scandal" of 2007-2008, which led to the "Great Recession" is a potential risk and problem.
- Given that the GRIP approach, it's intellectual assets and all other related assets (including domain names/websites/contents) are solely owned by William T. Griffin, acquisition of these and the immediate implementation by a bank or 3rd. party other is possible, given there are no other investors, parties, board of directors, encumbrances , interests, or persons with legitimate claims creating a barrier.
- It is possible that any acquiring bank or other party can begin implementation of the GRIP method/plan with the consulting and training materials development by William T. Griffin within ninety (90) days.
Questions from counties and municipalities on applying for funds and participation, how payments are processed, etc.
- Counties and communities need to consider an approach similar to what China did with their enterprise economic zones. As an example: a road or bridge can only be paid for by tolls and raising local fuel taxes, property taxes etc. However, coupled with a project like water/sewer treatment, storm-water abatement, adoption of solar power and similar provides with taxpayer palatable revenue sources, using an SPE/SPV; the payments can be lower and after the project(s) a fully paid for, the remaining is thus profitable economic growth, where taxes (i.e. property taxes, school taxes, local income taxes, etc.) can be reduced.
- In addition to a more comprehensive economic development approach, the project(s) planning and implementation need to be well managed, with milestones, timetables, costs per phase, and related considerations. Without these controls, supervised by either a municipal counsel or appointed/elected board, the pitfalls many infrastructure projects have will only be repeated.
- As much as is possible, local companies and citizens need to be engaged and employed in the projects. These can also serve as job training and job re-training programs.
- Participation with the business community is essentials and growth goals must be defined, given infrastructure projects lead to knew business development, jobs, economic growth generally, and other forms of economic development.
- Participation and input by the general public (taxpayers), with public hearings and debates is crucial.
Federal, State & Local Legislation, Laws, Rules and Best Practices.
- Most of these have already been addressed in the Legislation & Politics page of the Implementation menu above.
- As their is bi-partisan support for addressing the infrastructure issues, the matter is how to pay for it and how GRIP can be adopted and adapted on the Federal, State, County, Municipal levels.
- Planning and meticulous attention to details in an MBO approach (i.e. milestone, timetables & costs) is essential and it must have the active input and participation of the citizens/taxpayers.
- Without compromise to public safety, permit processes will need to be expedited and streamlined. The methods to do this already exist. Therefore it is all a matter of willingness, compromise and cooperation.
- Although implementing the GRIP approach requires a firm foundation and standards, it must also have the flexibility to meet the needs and requirements of the community and it's taxpayers.
