New Study Confirms Kelly Infrastructure Bill Will Create Jobs & Grow Economy

Oct 26, 2017 Issues: Economy and Jobs

Rep. Kelly: “A win-win-win for infrastructure, jobs, and taxpayers”

WASHINGTON — A new study released today by the Beacon Hill Institute for Public Policy Research determined that bipartisan legislation introduced by U.S. Representative Mike Kelly (R-PA) – the Public Buildings Renewal Act (H.R. 960) – would create 32,400 jobs in America and increase real GDP by $8.06 billion.

According to the Beacon Hill Institute, “The economic and fiscal benefits of the proposed Public Buildings Renewal Act (PBRA) could save taxpayers billions while adding billions more to the economy if Congress decides to unlock the proven benefits of Private Activity Bonds for government buildings. That’s the bottom line of a new study released today from The Beacon Hill Institute (BHI) for Public Policy, which conducted an exhaustive economic analysis of the short- and long-term benefits of P3s for addressing an increasingly challenging public policy issue facing state and local governments.

Statement by Rep. Kelly:

“This new study confirms what so many have been saying all along: the Public Buildings Renewal Act is a win-win-win for American infrastructure, jobs, and taxpayers. I expect many more members of Congress to see this report and join the bipartisan effort to unleash the power of Private Activity Bonds to help solve our nation’s public infrastructure crisis. We have a real chance to repair countless schools, hospitals, courthouses, and more, while reviving our local economies. We can’t afford to let this opportunity slip away.”

David Tuerck, PhD., President of BHI and Professor of Economics at Suffolk University:

“Private Activity Bonds for buildings are a triple win for governments, taxpayers, and the economy. Our findings show that, in the short run, every dollar of new infrastructure investment made possible by the PBRA will add $2.80 to the U.S. economy. At the same time, taxpayers save nearly 25 percent over the life of these projects compared to traditional building methods, while these projects are delivered on time with guaranteed long-term performance.”