THE PUBLIC BUILDINGS RENEWAL ACT (PBRA) WOULD CREATE JOBS, FAST-TRACK CONSTRUCTION AND SAVE TAXPAYERS MILLIONS
New Study Highlights The Benefits of Constructing Government Buildings Via Public-Private Partnerships (P3s) Financed with Private Activity Bonds
“This new study con rms what so many have been saying all along: the Public Buildings Renewal Act is a win-win-win for American infrastructure, jobs, and taxpayers.” — Rep. Mike Kelly (R-PA), lead House sponsor
“Now is the time to use the success of P3s in the infrastructure sector as a nancing model for repairing our public buildings and other cornerstones of our communities, particularly public schools and libraries.” — Sen. Dean Heller (R-NV), lead Senate sponsor
P3’s offer cost savings of nearly 25% over the life of the project compared to traditional building methods.
IF P3S EXPAND TO 20% OF ALL GOVERNMENT BUILDINGS FOLLOWING PASSAGE OF THE PBRA, IT WOULD:
In the First Year;
*Generate $2.796 billion worth of new public buildings
*Increase real GDP by $8.285 billion Create 43,200 jobs
*Increase federal and state income tax receipts by $860 million
In 10 years
*Generate $85.90 billion worth of new public buildings
*Increase real GDP by $8.06 billion Create 32,400 jobs
*Increase federal and state income tax receipts by $789 million
Congress can unleash the power of private activity bond- nanced P3s on public buildings by passing the Public Buildings Renewal Act (H.R. 960/S. 326).
Source: The Impact of Tax Exempt Financing on Public-Private Partnerships: A Dynamic Analysis Beacon Hill Institute, October, 2017 | BeaconHill.org