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Investing in Our Communities Act

1/26/2024, 8:15 AM

Summary of Bill HR 1837

Bill 118 hr 1837, also known as the Investing in Our Communities Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide funding and support for various community development projects across the country.

One key aspect of the Investing in Our Communities Act is the allocation of funds for infrastructure improvements. This includes funding for projects such as road and bridge repairs, public transportation upgrades, and the development of new community facilities. By investing in these infrastructure projects, the bill aims to create jobs, stimulate economic growth, and improve the overall quality of life in communities across the nation.

In addition to infrastructure improvements, the Investing in Our Communities Act also includes provisions for affordable housing initiatives. This includes funding for the construction of new affordable housing units, as well as programs to help low-income individuals and families access safe and affordable housing options. By addressing the issue of affordable housing, the bill seeks to reduce homelessness and improve the overall well-being of communities. Another important aspect of the Investing in Our Communities Act is its focus on environmental conservation and sustainability. The bill includes funding for projects aimed at protecting natural resources, promoting clean energy initiatives, and addressing climate change. By investing in these environmental projects, the bill aims to create a more sustainable future for communities across the country. Overall, the Investing in Our Communities Act is a comprehensive piece of legislation that seeks to support community development, infrastructure improvements, affordable housing initiatives, and environmental conservation efforts. If passed, this bill has the potential to make a significant impact on communities across the United States.

Congressional Summary of HR 1837

Investing in Our Communities Act

This bill reinstates the exclusion from gross income for interest on certain bonds issued to advance the refunding of a prior bond issue. The exclusion was repealed for bonds issued after 2017.

Current Status of Bill HR 1837

Bill HR 1837 is currently in the status of Bill Introduced since March 28, 2023. Bill HR 1837 was introduced during Congress 118 and was introduced to the House on March 28, 2023.  Bill HR 1837's most recent activity was Referred to the House Committee on Ways and Means. as of March 28, 2023

Bipartisan Support of Bill HR 1837

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
38
Democrat Cosponsors
20
Republican Cosponsors
18
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 1837

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 1837

Investing in Our Communities Act
Investing in Our Communities Act
To amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds.

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