Ohio Congressman John Boehner, the Speaker of the US House of Representatives, expects the House will vote on an energy and infrastructure jobs bill before the New Year.
He is hopeful that the bill will pass this quarter, according to a spokesman in Speaker Boehner's office. A new bill that further details the proposed use of income from energy production for infrastructure development has yet to emerge.
The latest proposal takes a two-pronged approach that leverages increased domestic energy production with an overhaul of US infrastructure. It touts the use of private capital generated from oil and gas development as a source of financing for infrastructure initiatives. Speaker Boehner's office is expected to unveil greater details about this process soon.
Included in the reform are changes to the way that industry capital is directed, an issue the Speaker addressed in a letter to President Obama in September. For instance, Speaker Boehner suggested that mandatory state requirements on infrastructure spending for non-pressing initiatives be lifted.
Also at its core, the bill is designed to soften regulatory framework so that job growth in the energy sector – which ideally would trigger economic growth and lend itself to infrastructure investing – is not stifled. Congressman Boehner appears confident that the bill will pass the House this year before the legislation is punted to the US Senate.
“I’m not opposed to responsible spending to repair and improve infrastructure. But if we want to do it in a way that truly supports long-term economic growth and job creation, let’s link the next [infrastructure] bill to an expansion of American-made energy production,” said Speaker Boehner in a previous economic address.