Join NTUF At CPAC
Please join the National Taxpayers Union Foundation (NTUF) at the Conservative Political Action Conference (CPAC). NTUF will be highlighting our research and recent accomplishments. We will also be partnering with the National Center for Policy Analysis to collect information on the Independent Payment Advisory Board (IPAB) -- a panel of 15 unelected bureaucrats who can enact law and determine Medicare reimbursement rates. Come by NTUF's booth (#1913) to participate in our IPAB survey and enter to win a $150 giftcard.
- What: NTUF at CPAC
- When: February 9-11, 2012
- Where: Conservative Political Action Conference
Marriott Wardman Park Hotel
2660 Woodley Road, NW
Washington, District Of Columbia 20008
The Bill: H.R. 3793, Investing for Tomorrow’s Schools Act of 2012
Annualized Cost: $500 million ($2.5 billion over five years)
The National Center for Education Statistics estimates that America's public schools need $127 billion for repairs, modernization, expansion, and other construction projects. A survey by the Council of the Great City Schools indicates that the 50 largest school systems need $46.7 billion for repairs and renovations. An estimated 14 million students attend a school that reports the need for extensive repair or replacement of one or more of its buildings. Congressman Heath Shuler (D-NC) has introduced H.R. 3793, the Investing for Tomorrow's Schools Act of 2012, to address this apparent crumbling of America's public education infrastructure.
The bill would create an infrastructure bank pilot program. The bill allows the Secretary of the Treasury and a state to enter into a cooperative agreement to establish an infrastructure bank that would make loans to local educational agencies, public libraries, or eligible charter schools. Two or more states would be allowed to create a multistate bank.
H.R. 3793 authorizes $2.5 billion over five years to capitalize the banks. The Treasury Secretary would distribute those funds in the form of grants. Each state would, at a minimum, need to contribute an amount equal to 25 percent of the amount of each capitalization grant made to the state. Those funds would need to come from non-federal sources. Program administration fees would be capped at 2 percent of the federal funds contributed to the bank.
Projects eligible for funding would include:
- Constructing new schools as enrollment rises
- Repairing old school building structures, plumbing, ventilation, and lighting systems
- Improving physical safety, student health, and energy efficiency
- Installing technology to aid education, such as Ethernet lines or power outlets
- Building new and repairing old libraries
To qualify for funding, projects must pay prevailing wages under the Davis-Bacon Act.
H.R. 3793 currently has no cosponsors.
To learn more or discuss this bill visit WashingtonWatch.com.
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