House Republican Minority Leader Kevin McCarthy (R-CA) backed bipartisan infrastructure legislation Thursday that would fund infrastructure by selling off distressed government assets.
During an event with the Washington Post Thursday, McCarthy said that a bipartisan piece of legislation known as the GAIIN Act could help fund President Donald Trump’s proposed $2 trillion infrastructure project. The Generating American Infrastructure and Income Now (GAIIN) Act, would require the Department of Agriculture to sell off its distressed debt, worth more than $50 billion, pay down America’s debt, and fund infrastructure projects in rural districts as America’s inner cities.
As President Trump made a deal with House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY), how to “pay for” an infrastructure deal “is always the difficult part,” McCarthy said. He then noted the GAIIN Act, which has bipartisan support from the Congressional Black Caucus and the House Freedom Caucus.
“It’s called the GAIIN Act, you know who supports the GAIIN Act, you have the Black Caucus and the Freedom Caucus.”
After the Washington Post reporter noted how the legislation might only raise $100 billion from selling off distressed government assets, McCarthy said, “$100 billion you don’t have to raise taxes on. It’s a start of where you go; it goes to the 100 poorest districts, it has bipartisan support already, that’s a good start.”
The House Republican leader noted that he believes that the GAIIN Act can continue to serve as part of a larger solution to America’s infrastructure woes, including reforms to the infrastructure process, and potential public-private partnerships.
McCarthy said:
I want to be able to have the GAIIN Act on the table, I want to be able to have reformed, I don’t want to wait if I vote for an infrastructure bill that my grandchildren aren’t going to be able to see or finally be able to drive on the road. I want to be able to drive on the road, there’s a better way to do it and there’s a better way to get synergy when you do private and public partnerships and I’ll sit with anyboyd that wants to work to solve the problem.
As more establishment figures continue to push a gas tax increase to fund an infrastructure project, McCarthy looks to the GAIIN Act as part of a practical solution that can fulfill President Trump’s promise to revitalize America’s infrastructure.
When the GAIIN Act was introduced last year, the bill garnered significant bipartisan support from lawmakers across the political spectrum. Mike Kelly (R-PA), William Lacy Clay (D-MO) and Ted Budd (R-NC), Warren Davidson (R-OH), Sheila Jackson Lee (D-OH), Frederica Wilson (R-FL), and Alex Mooney (R-WV) co-sponsored the GAIIN Act.
Rep. Kelly told Breitbart News previously that President Trump backed the GAIIN Act.
“You know what? Great idea, great idea. I can’t tell you how many times I’ve done that in my business life and you do get ahead,” Trump reportedly said during the meeting between himself and Kelly.
Andy Surabian, a former deputy White House strategist, wrote an op-ed for Breitbart News detailing how the GAIIN Act “would do wonders for the President’s bipartisan, working-class bona fides.”
“What’s more, the legislation is a shot in the arm for the blue-collar working class, who form a crucial pillar of President Trump’s base of support. Rather than being punished by the pains of higher gas prices, many lower-income American will see the development of infrastructure specifically tailored for their communities,” Surabian wrote.
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
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