The Build Act Now Law

The Better Utilization of Investments Leading to Development Act (BUILD Act) is an Innovative way of putting Private-Sector Dollars to Work in Developing Countries Building Infrastructure, creating First-Time Access to Electricity, Starting Businesses, Creating Jobs, and ultimately Reducing the need for American Foreign Aid. The BUILD Act would Fast-Track the Modernization of America’s Engagement in Developing Countries, Shifting even Closer to Real Partnership, while Reforming Federal Government Programs to make them more Efficient.

The BUILD Act would work in Three Key ways:

- It Merges an Existing Federal Agency and several other Existing Programs into a New Development Finance Corporation (or DFC) to Support Private Investment in Projects that will Help People in Fragile and Developing Countries.

- It gives that Agency New Tools to better Engage Entrepreneurs and Investors.

- It Raises the Limit on how much Money the Government can use to back these Private Sector Ventures.

The BUILD Act would make it Easier for American Businesses to operate in Developing Countries. At its Core, the Bill would Lessen the Risk to American Companies that want to do Business in Developing Countries, and create New Tools to help the Government Support and Partner with promising Entrepreneurs.

The BUILD Act would also help Modernize how America Engages in Developing Countries. For years, both Republicans and Democrats in Congress have worked to Change the way the U.S. Engages Developing Countries from Charity to Partnership. As a result, Foreign Assistance Programs have been Reformed and Modernized to make sure that every Dollar Invested in Overseas Development is spent Efficiently and Effectively. The BUILD Act is the Next Step in that Effort, Leveraging America’s Private Sector to create Economic Partnerships and ultimately Reduce the Need for Taxpayer-Funded Foreign Assistance.

While Congress will Control how much Money the New DFC is Allowed to Spend on Staff and Administrative Expenses, once on its feet, the DFC will actually Generate enough Revenue to Support itself. In fact, like the Current system, the Overseas Private Investment Corporation (OPIC), the DFC will Return Money to the U.S. Treasury every year.

With the Help from Senators Bob Corker (R-TN) and Chris Coons (D-DE) The BUILD Act became Law on Friday.










NYC Wins When Everyone Can Vote! Michael H. Drucker