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Rep. Petri: Proposed bills would develop new energy, create jobs
HARRISBURG -- Rep. Scott Petri (R-178) has introduced two bills to rebuild the state's ailing infrastructure and develop new sources of energy while creating family-sustaining jobs in the Commonwealth.
At a public hearing at the state Capitol, Petri said House Bills 1117 and 1118 would clear the way for private investment in an Energy Independence Bond program and an Infrastructure Bond program.
"The two programs will allow the state to obtain funds that will be used to address our 21 st century energy needs as well as address the deficiency in the Commonwealth's transportation networks," said Petri. "The infrastructure bond program will also include funding for water and sewer improvements, which many Pennsylvania communities need. This will all be accomplished without raising the tax burden on Pennsylvanians -- now or in the future."
In the current state of the economy, Petri said many citizens are feeling frustrated and powerless. However, he said, his plan would give citizens a direct stake in the Commonwealth's recovery by giving them the opportunity to invest in their own communities and in projects that affect them directly.
"Much like the U.S. Savings Bond program that offers a guaranteed rate of return, under my plan, citizens would have the opportunity to buy bonds at their local bank in modest $100 increments," Petri said. "The Commonwealth Financing Authority (CFA) would administer the program, accept loan applications and set interest rates, as well as provide assistance in overseeing the projects funded by the two programs.
"My legislation will assist in growing our economy and will both save jobs and create new ones," said Petri. "With these privately invested funds, no outsourcing should be allowed."
To see Petri's legislation, visit www.RepPetri.com and click on "Rebuild PA."
At a public hearing at the state Capitol, Petri said House Bills 1117 and 1118 would clear the way for private investment in an Energy Independence Bond program and an Infrastructure Bond program.
"The two programs will allow the state to obtain funds that will be used to address our 21 st century energy needs as well as address the deficiency in the Commonwealth's transportation networks," said Petri. "The infrastructure bond program will also include funding for water and sewer improvements, which many Pennsylvania communities need. This will all be accomplished without raising the tax burden on Pennsylvanians -- now or in the future."
In the current state of the economy, Petri said many citizens are feeling frustrated and powerless. However, he said, his plan would give citizens a direct stake in the Commonwealth's recovery by giving them the opportunity to invest in their own communities and in projects that affect them directly.
"Much like the U.S. Savings Bond program that offers a guaranteed rate of return, under my plan, citizens would have the opportunity to buy bonds at their local bank in modest $100 increments," Petri said. "The Commonwealth Financing Authority (CFA) would administer the program, accept loan applications and set interest rates, as well as provide assistance in overseeing the projects funded by the two programs.
"My legislation will assist in growing our economy and will both save jobs and create new ones," said Petri. "With these privately invested funds, no outsourcing should be allowed."
To see Petri's legislation, visit www.RepPetri.com and click on "Rebuild PA."
Labels: 178th District, energy, jobs, Scott Petri
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