Build America Bonds Act of 2003

The Build America Bonds Act of 2003 proposed the creation of a national non-profit corporation authorized to issue specialized bonds to fund large-scale transportation infrastructure projects across the United States. These bonds would have financed the construction and improvement of highways, transit systems, railroads, airports, and waterways as proposed by individual states.

For citizens, this bill aimed to accelerate the modernization of travel and shipping networks by providing a new way to fund public works through private investment. Instead of receiving traditional interest payments, investors would have received federal income tax credits, intended to lower the overall cost of borrowing for major infrastructure repairs and expansions.