Authorize a government-owned corporation under an Infrastructure Renewal and Modernization Act (IRMA) capitalized by high yield, tax-exempt IRMA bonds for sale to wealthy financial institutions, corporations and individuals. IRMA would award contracts for transportation, energy and other projects subject to user fees for servicing bond interest, repaying a modest federal sinking fund and sharing with state and local governments where projects are completed.
Allow repatriation of corporate foreign profits at low tax rates provided at least 50% is invested in IRMA bonds.
Transceivers would identify vehicles on modernized roads for billing user fees to registered owners, with compensating tax adjustments.
New jobs will open in construction, heavy equipment, and electronic industries.
Go,IRMA
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