AGC-Supported Invest in America Act Introduced

Could Spur Billions in Commercial Construction Investment
On April 10, Reps. John Larson (D-Conn.) and Kenny Marchant (R-Tex.), introduced the AGC-supported Invest in America Act (H.R. 2210), which would repeal a decades-old tax provision that artificially limits foreign investment in the United States. By some estimates, enacting this legislation would result in $65 to $125 billion in increased infrastructure and real estate investment, and 150,000 to 280,000 construction and construction-related jobs.
Originally created in 1980, the Foreign Investment in Real Property Tax Act (FIRPTA) imposes U.S. tax on gain realized by a foreign investor on the disposition of an “interest” in U.S. real property. As a result, the FIRPTA tax can subject foreign investment in U.S. real estate and infrastructure (including some interests in public-private partnerships) to a much higher tax burden than applies to a foreign investor purchasing a U.S. stock or bond, or an investment in any other asset class.
For further information, please contact Matthew Turkstra at matt.turkstra@agc.org or (202) 547-4733.


Be the first to comment

Please check your e-mail for a link to activate your account.