House Sets Vote on Plan to Double Funding for Global Infrastructure Projects
The Wall Street Journal | Mon, Sep 24, 2018
by Josh Zumbrun and Siobhan Hughes
Must-pass FAA bill includes ‘Build Act,’ a bid to counter China’s influence by bolstering development financing
WASHINGTON—The U.S. House of Representatives is set to vote this week on a must-pass piece of legislation that includes a provision that would dramatically bolster American funding of global infrastructure and development projects.
Legislators have included the “Build Act,” seen by its supporters as a major step to counter China’s growing influence in global development, in legislation that would reauthorize the Federal Aviation Administration.
The legislation is seen as something that must be passed by the end of the month, because it is essential for the operation of the air-travel system and lawmakers are reluctant to pass another short-term extension.
The Build Act would significantly boost the U.S. role in international development by combining several little known government agencies into a new body with authority to extend $60 billion in development financing—more than doubling the cap of the current agency that performs that function.