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Border Bonds for America Act of 2022

12/29/2022, 6:18 PM

Summary of Bill HR 8371

Bill 117 hr 8371, also known as the Border Bonds for America Act of 2022, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to authorize the issuance of bonds to fund the construction of a border wall along the US-Mexico border.

The bill outlines the specifics of how these bonds would be issued, including the terms and conditions for investors. It also establishes a Border Bonds Trust Fund to manage the proceeds from the sale of these bonds and ensure that they are used solely for the construction of the border wall.

Supporters of the bill argue that a border wall is necessary to enhance national security and curb illegal immigration. They believe that issuing bonds to fund the construction of the wall is a fiscally responsible way to address these concerns. Opponents of the bill, on the other hand, argue that a border wall is unnecessary and ineffective in addressing immigration issues. They also raise concerns about the environmental impact of constructing a wall along the border. Overall, the Border Bonds for America Act of 2022 is a controversial piece of legislation that has sparked debate among lawmakers and the public. It remains to be seen whether this bill will ultimately be passed into law.

Congressional Summary of HR 8371

Border Bonds for America Act of 2022

This bill directs the Department of the Treasury to issue up to $5 billion in bonds in a fiscal year, with proceeds going into a trust fund for the construction of reinforced fencing, physical barriers, and related infrastructure for the southwest border with Mexico. Treasury may issue such bonds for 30 years from the bill's enactment date.

The bill also authorizes Treasury to accept gifts of money for the same purpose.

Current Status of Bill HR 8371

Bill HR 8371 is currently in the status of Bill Introduced since July 14, 2022. Bill HR 8371 was introduced during Congress 117 and was introduced to the House on July 14, 2022.  Bill HR 8371's most recent activity was Referred to the Subcommittee on Border Security, Facilitation, and Operations. as of July 15, 2022

Bipartisan Support of Bill HR 8371

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
4
Democrat Cosponsors
0
Republican Cosponsors
4
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 8371

Primary Policy Focus

Immigration

Alternate Title(s) of Bill HR 8371

Border Bonds for America Act of 2022
Border Bonds for America Act of 2022
To provide for the issuance of revenue bonds to fund construction of a physical border barrier and related technology, roads, and lighting along the United States border with Mexico.

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