The recently unveiled bipartisan “Invest in America Act” would attract as much as $125 billion in global investment in aging buildings and crumbling infrastructure in the U.S., according to supporters of the federal legislation.
The bill is supported by The American Institute of Architects (AIA) and The Real Estate Roundtable (RER). It could create as many as 284,000 American jobs, sponsors say.
The legislation would repeal the “Foreign Investment in Real Property Tax Act” (FIRPTA). First enacted in 1980, FIRPTA is a tax that “deflects global capital from U.S. cities and towns by imposing a capital gains tax on global investors that finance any U.S. real property,” according to an AIA news release.
The law “greatly inhibits state and local leaders from partnering with global investors—in addition to leveraging domestic partners—to improve their communities, including renovating aging buildings; constructing roads, bridges, tunnels, hospitals and airports; developing affordable housing; and utilizing new Opportunity Zones,” the release says.
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![2015 was a record year for mergers and acquisitions in the AE industry [infographic]](/sites/default/files/styles/list_big/public/Screen%20Shot%202016-01-28%20at%209.38.08%20AM.png?itok=udg8OToR "2015 was a record year for mergers and acquisitions in the AE industry [infographic]")
Architects | Jan 28, 2016
2015 was a record year for mergers and acquisitions in the AE industry [infographic]
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Architects | Jan 27, 2016
NCARB to rename the Intern Development Program
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Architects | Jan 26, 2016
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Market Data | Jan 20, 2016
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Architects | Jan 18, 2016
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How to succeed with EIFS: exterior insulation and finish systems
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