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United States : Marchant, Larson Introduce Invest in America Act.

Congressmen Kenny Marchant (TX-24) and John B. Larson (CT-01) introduced the Invest in America Act that would repeal the Foreign Investment in Real Property Tax Act of 1980, which applies capital gains taxes to foreign persons who invest in U.S. real estate. This bipartisan legislation would allow for additional capital to be unlocked that will be invested in American infrastructure, creating jobs and spurring economic development.

Global investment is critical to our nations economy, especially in the Dallas-Forth Worth region. That is why I am proud to partner with Congressman Larson to introduce the Invest in America Act, which will remove the barriers in our tax code that discourage investments in real estate. By providing parity to real estate assets under the law, foreign investors will be able to create more opportunities and more prosperity for American families, said Congressman Marchant.

The American Society of Civil Engineers has given Americas infrastructure a D+ rating. Thats unacceptable. This isnt a Republican or Democrat issue, this is an American issue. I am proud to introduce the Invest in America Act today with Congressman Marchant to unlock more opportunities to invest in communities in Connecticut and across the nation and to rebuild our infrastructure, said Larson.

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Publication:Mena Report
Date:Apr 11, 2019
Words:217
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