President Barack Obama has proposed new tax exemption policies in a move to draw private sector investments for infrastructure works, the New York Times reported Friday.
Julie Hirschfeld Davis writes the White House’s administrative actions aim to finance roads, bridges, water systems and broadband networks projects without public funds.
Obama recommends the creation of public infrastructure bonds to fund public works, according to the report.
The municipal bonds would be available to private investors who would be exempt from the minimum tax in return, the Times reports.
White House officials said Obama would include the bond proposal in his budget, the report says.
The Environmental Protection Agency and the Agriculture Department also plan to use existing federal funds to seek private investments for infrastructure projects, Davis reports.