BUILD Act Receives Full Committee Hearing and Backing from the White House
Washington, D.C. – The Better Utilization of Investments Leading to Development Act (BUILD) - H.R. 5105, introduced by Chairman of the House Foreign Affairs Subcommittee on Asia and the Pacific, Ted S. Yoho (R-FL), received a hearing in front of the full House Foreign Affairs committee today. The BUILD Act will consolidate multiple federal programs into one new development finance corporation for greater efficiency. The goals of this important piece of legislation have bipartisan support in both the House and Senate, as well as from the White House.
Chairman Yoho issued the following statement:
“I would like to thank House Foreign Affairs Committee Chairman, Ed Royce, for his support of the BUILD Act and for convening the full committee hearing today. Creating a modern development finance system that focuses on efficiency and oversight, benefits our national security and the emerging markets that receive U.S. foreign aid dollars. For the countries receiving development finance, the goal is to transition them from aid recipients to trading partners.
“The BUILD Act will streamline our current system and the method by which we target our foreign aid investments. I would also like to thank the Administration for their support for this bipartisan bill. Working together to pass the BUILD Act, not as democrats or republicans but as Americans, will strengthen U.S. foreign assistance and make us more competitive around the world."