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While everyone focuses on Russia and Illegals...
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miko33 Offline
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Post: #1
While everyone focuses on Russia and Illegals...
...some bipartisanship is brewing in Washington. Sounds like an interesting bill on something that is critically important to the U.S. - INFRASTRUCTURE

https://kelly.house.gov/press-release/bi...%E2%80%99s

Quote:U.S. Representatives Mike Kelly (R-PA), William Lacy Clay, Jr. (D-MO), and Ted Budd (R-NC) announced today the introduction of the Generating American Income and Infrastructure Act (GAIIN) Act (H.R. 6104), legislation that would require the Department of Agriculture to sell its distressed assets on the open market and then direct the Department of Treasury to distribute the proceeds to communities below the national poverty line for infrastructure projects that would directly improve their economic viability. Furthermore, the bill requires that a portion of the workforce for each of these projects must come from the communities being improved.

Rep. Kelly (R-PA): “Even in this time of historically strong economic growth, some of our country’s poorest communities are still waiting for significant infrastructure improvements. This unique, bipartisan piece of legislation will directly benefit them and boost their economies without raising taxes or adding to the deficit. In fact, it will help bring our nation’s record-high debt back down. It’s win-win-win. With this bill, our communities will be overlooked no more.”

Rep. Clay (D-MO): “This innovative, bipartisan bill offers a creative way to help our poorest neighborhoods gain employment and critical investments in long-delayed infrastructure projects. It is also fiscally responsible by taking distressed USDA assets and putting them to work to close the deep disparities that have deprived many urban areas of the vital infrastructure dollars needed to attract new jobs, new businesses and future growth.”

Rep. Budd (R-NC): “We need infrastructure investment in our state. This bill gets us there with bipartisan support.”
(This post was last modified: 06-18-2018 01:53 PM by miko33.)
06-18-2018 01:52 PM
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VA49er Offline
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Post: #2
RE: While everyone focuses on Russia and Illegals...
Anyone know examples of Department of Agriculture distressed assets?
(This post was last modified: 06-18-2018 02:15 PM by VA49er.)
06-18-2018 02:15 PM
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TigerBlue4Ever Online
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RE: While everyone focuses on Russia and Illegals...
(06-18-2018 02:15 PM)VA49er Wrote:  Anyone know examples of Department of Agriculture distressed assets?

Yeah I was curious about that as well.
06-18-2018 02:45 PM
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BadgerMJ Offline
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RE: While everyone focuses on Russia and Illegals...
(06-18-2018 01:52 PM)miko33 Wrote:  ...some bipartisanship is brewing in Washington. Sounds like an interesting bill on something that is critically important to the U.S. - INFRASTRUCTURE

https://kelly.house.gov/press-release/bi...%E2%80%99s

Quote:U.S. Representatives Mike Kelly (R-PA), William Lacy Clay, Jr. (D-MO), and Ted Budd (R-NC) announced today the introduction of the Generating American Income and Infrastructure Act (GAIIN) Act (H.R. 6104), legislation that would require the Department of Agriculture to sell its distressed assets on the open market and then direct the Department of Treasury to distribute the proceeds to communities below the national poverty line for infrastructure projects that would directly improve their economic viability. Furthermore, the bill requires that a portion of the workforce for each of these projects must come from the communities being improved.

Rep. Kelly (R-PA): “Even in this time of historically strong economic growth, some of our country’s poorest communities are still waiting for significant infrastructure improvements. This unique, bipartisan piece of legislation will directly benefit them and boost their economies without raising taxes or adding to the deficit. In fact, it will help bring our nation’s record-high debt back down. It’s win-win-win. With this bill, our communities will be overlooked no more.”

Rep. Clay (D-MO): “This innovative, bipartisan bill offers a creative way to help our poorest neighborhoods gain employment and critical investments in long-delayed infrastructure projects. It is also fiscally responsible by taking distressed USDA assets and putting them to work to close the deep disparities that have deprived many urban areas of the vital infrastructure dollars needed to attract new jobs, new businesses and future growth.”

Rep. Budd (R-NC): “We need infrastructure investment in our state. This bill gets us there with bipartisan support.”

I thought the porkulus (I mean stimulus) of 2008 was supposed to create all these "shovel ready jobs" in infrastructure?

Hey, what's a billion among friends.....

Besides that, shouldn't "distressed assets" sold off by the USDA go to those areas that actually are involved in AGRICULTURE first?
06-18-2018 02:50 PM
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JMUDunk Offline
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While everyone focuses on Russia and Illegals...
I was half listening to an interview with Lacy or Clay yesterday, they kept referring to both names so not sure which was on , I think it was Lacy, and this sounds like a real winner.

Dispose of a bunch of crap riding on the books of the federal government, properties, empty buildings, vacant lots etc., half the proceeds goes toward infrastructure projects, half goes towards reducing the deficit.

Apparently the “book value” is in the trillions, though this stuff may sell for a lot less than that. But, it gets it off the federal books/ledger, gives money back into the system and places the property in private hands for redevelopment, maybe salvage, whatever works.
Seems like a relative no-brainer win win win.
06-18-2018 02:58 PM
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Owl 69/70/75 Online
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RE: While everyone focuses on Russia and Illegals...
(06-18-2018 02:15 PM)VA49er Wrote:  Anyone know examples of Department of Agriculture distressed assets?

$2 billion of farm loans that are in default.
06-18-2018 03:06 PM
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VA49er Offline
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RE: While everyone focuses on Russia and Illegals...
(06-18-2018 03:06 PM)Owl 69/70/75 Wrote:  
(06-18-2018 02:15 PM)VA49er Wrote:  Anyone know examples of Department of Agriculture distressed assets?

$2 billion of farm loans that are in default.

Ah, figured it was something along those lines and not tractors, etc. 04-cheers
06-18-2018 03:25 PM
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Owl 69/70/75 Online
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RE: While everyone focuses on Russia and Illegals...
(06-18-2018 03:25 PM)VA49er Wrote:  
(06-18-2018 03:06 PM)Owl 69/70/75 Wrote:  
(06-18-2018 02:15 PM)VA49er Wrote:  Anyone know examples of Department of Agriculture distressed assets?
$2 billion of farm loans that are in default.
Ah, figured it was something along those lines and not tractors, etc. 04-cheers

"Distressed assets" is generally government-ese for bad loans.
06-18-2018 04:54 PM
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