House Ways and Means Committee Chairman Charles Rangel (D-N.Y.) is reviving a proposal aimed at giving school construction a boost. The America’s Better Classrooms Act, introduced May 24, would provide a federal tax credit for interest income on state and local bonds issued to finance school construction. Supporters say the bill would provide $25 billion over two years for “zero-interest” bonds. The bill has 156 initial co-sponsors.
Bill Pro-poses Tax Credit for Construction Bonds
May 30, 2007