To provide $50,000,000,000 in new transportation infrastructure funding through bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, bridges, rail and transit systems, ports, and inland waterways, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; ETC.
(a) Short Title.--This Act may be cited as the ``Transportation and Regional Infrastructure Project Bonds Act of 2011'' or ``TRIP Bonds Act''. (b) References to Internal Revenue Code of 1986.--Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.
SEC. 2. FINDINGS AND PURPOSE.
(a) Findings.--Congress finds the following: (1) Our Nation's highways, transit systems, railroads, ports, and inland waterways drive our economy, enabling all industries to achieve growth and productivity that makes America strong and prosperous. (2) The establishment, maintenance, and improvement of the national transportation network is a national priority, for economic, environmental, energy, security, and other reasons. (3) The ability to move people and goods is critical to maintaining State, metropolitan, rural, and local economies. (4) The construction of infrastructure requires the skills of numerous occupations, including those in the contracting, engineering, planning and design, materials supply, manufacturing, distribution, and safety...