U.S. Senator Joe Manchin (D-W.Va.) announced his co-sponsoring of the Rebuild America Jobs act as part of kicking off his week-long “Commonsense Ideas for a Stronger America” tour.
The act would invest $60 billion in infrastructures: $50 billion going toward roads, bridges and air traffic infrastructure; and $10 billion in an infrastructure bank, creating public-private partnerships to fund important development projects – both in cities and in rural areas.
“I didn’t go to Washington to be part of the problem or to play blame games, I went to be part of the solution,” Manchin said. “So today I am proud to announce that I am introducing the Rebuild America Jobs Act with several other Senators to finally make a substantial, $60 billion investment in a true job-creator: rebuilding our roads and bridges.”
This bill would substantially benefit West Virginia, as according to the Labor Department, the greatest percentage of West Virginians making unemployment insurance claims are from the construction industry – with 19.8 percent of all the claims coming from unemployed construction workers, a Manchin release stated.
Not to mention that West Virginia ranks eighth in the nation for the number of bridges that need to be repaired and that driving on roads in need of repair costs each West Virginia motorist an average of $280 annually - $371 million state-wide.
Furthermore, Moody’s, a credit rating agency, estimated that for every $1 spent on infrastructure, America’s Gross Domestic Product would raise by roughly $1.59, Manchin’s release stated.
The bill would be paid for by a 0.7 percent surtax on millionaires; specifically, any income over $1 million, and is expected to be introduced Oct. 31, when Senators return from the state work period.
“For the sake of our nation’s economic future, we must work together – Democrats and Republicans – and try and find more commonsense solutions that protect and create jobs, without adding to our growing deficits and debt,” Manchin said.