Rep. John Larson (D-CT) and Rep. Kenny Marchant (R-TX) have introduced the “Invest in America Act” that aims to draw $125 billion in investment, create 284,000 jobs, and create many more opportunities for contractors. The bill would repeal the “Foreign Investment in Real Property Tax Act (FIRPTA)” along with the rules requiring foreign investors to pay capital gains when financing real property in the United States. After a partial FIRPTA appeal in 2015, foreign investment in U.S. cities increased by 33%.
The goal is to make financing new construction and infrastructure more attractive to foreign investors and provide an influx of capital into the construction industry. This will in turn create more opportunities for contractors which will create more jobs. President Trump has made obtaining federal dollars contingent on projects with non-federal funding in place so more foreign investment could help more projects obtain federal dollars as well. Click here to learn more.
So where can you purchase bid and payment/performance bonds for a project?
Colonial Surety offers the direct and digital way to obtain bid and payment/performance bonds as well as any other surety bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print your bond from your office. It’s that simple!
Colonial gives you an easier way to manage your bid and payment/performance bonds online. Having your single and aggregate limits in writing allows you to update your work on hand and adjust your bonding capacity in real time.