United States 119th Congress Status: In Committee Bipartisan · 5 D · 3 R cosponsors

S 1480 — American Infrastructure Bonds Act of 2025

Last action — Read twice and referred to the Committee on Finance.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced April 10, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 8 sponsors

    1 primary, 7 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (5 D · 3 R) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

Sections of law this bill changes

1 section in 1 law

From the bill's own amending language, matched to the official United States Code (current through Public Law 119-121).

Assessment · 26 U.S.C. ch. 63 1 section
  • § 6211 Definition of a deficiency Amends

    26 U.S.C. § 6211 — at 6211(b)(4)

    The law today

    (a) In general For purposes of this title in the case of income, estate, and gift taxes imposed by subtitles A and B and excise taxes imposed by chapters 41, 42, 43, and 44 the term “deficiency” means the amount by which the tax imposed by subtitle A or B, or chapter 41, 42, 43, or 44 exceeds the excess of— (1) the sum of (A) the amount shown as the tax by the taxpayer upon his return, if a return was made by the taxpayer and an amount was shown as the tax by the taxpayer thereon, plus (B) the amounts previously assessed (or collected without assessment) as a deficiency, over— (2) the amount of rebates, as defined in subsection (b)(2), made. (b) Rules for application of subsection (a) For purposes of this section— (1) The tax imposed by subtitle A and the tax shown on the return shall both be determined without regard to payments on account of estimated tax, without regard to the credit under section 31, without regard to the credit under section 33, and without regard to any credits resulting from the collection of amounts assessed under section 6851 or 6852 (relating to termination assessments). (2) The term “rebate” means so much of an abatement, credit, refund, or other repayment, as was made on the ground that the tax imposed by subtitle A or B or chapter 41, 42, 43, or 44 was less than the excess of the amount specified in subsection (a)(1) over the rebates previously made. (3) The computation by the Secretary, pursuant to section 6014, of the tax imposed by chapter 1 shall be considered as having been made by the taxpayer and the tax so computed considered as shown by the taxpayer upon his return. (4) For purposes of subsection (a)— (A) any excess of the sum of the credits allowable under sections 21 by reason of subsection (g) thereof, 24 by reason of subsections (d) and (i)(1) thereof, 25A by reason of subsection (i) thereof, 32, 34, 35, 36, 36B, 6428, 6428A, 6428B, and 7527A over the tax imposed by subtitle A (determined without regard to such credits), and (B) any excess of the sum of such credits as shown by the taxpayer on his return over the amount shown as the tax by the taxpayer on such return (determined without regard to such credits), shall be taken into account as negative amounts of tax. (c) Coordination with subchapter C In determining the amount of any deficiency for purposes of this subchapter, adjustments to partnership-related items shall be made only as provided in subchapter C.

    229 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

Also cites: 26 U.S.C. § 6431

How this bill changes current law

3 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill creates a new tax credit for issuers of American infrastructure bonds under the Internal Revenue Code.

  • Subchapter B of chapter 65 of the Internal Revenue Code of 1986

    SEC. 6431. CREDIT TO ISSUER OF AMERICAN INFRASTRUCTURE BONDS. (a) In General.--The issuer of an American infrastructure bond shall be allowed a credit with respect to each interest payment under such bond which shall be payable by the Secretary as provided in subsection (b). (b) Payment of Credit.-- (1) In general.--The Secretary shall pay (contemporaneously with each interest payment date under such bond) to the issuer of such bond (or to any person who makes such interest payments on behalf of the issuer) 28 percent of the interest payable under such bond on such date. (2) Interest payment date.--For purposes of this subsection, the term 'interest payment date' means each date on which the holder of record of the American infrastructure bond is entitled to a payment of interest under such bond. (c) American Infrastructure Bond.-- (1) In general.--For purposes of this section, the term 'American infrastructure bond' means any obligation if-- (A) the interest on such obligation would (but for this section) be excludable from gross income under section 103, (B) the obligation is not a private activity bond, and (C) the issuer makes an irrevocable election to have this section apply. (2) Applicable rules.--For purposes of applying paragraph (1)-- (A) for purposes of section 149(b), a bond shall not be treated as federally guaranteed by reason of the credit allowed under this section, and (B) a bond shall not be treated as an American infrastructure bond if the issue price has more than a de minimis amount (determined under rules similar to the rules of section 1273(a)(3)) of premium over the stated principal amount of the bond. (d) Special Rules.-- (1) Interest on american infrastructure bonds includible in gross income for federal income tax purposes.--For purposes of this title, interest on any American infrastructure bond shall be includible in gross income. (2) Application of arbitrage rules.--For purposes of section 148, the yield on an issue of American infrastructure bonds shall be reduced by the credit allowed under this section, except that no such reduction shall apply with respect to determining the amount of gross proceeds of an issue that qualifies as a reasonably required reserve or replacement fund. (e) Regulations.--The Secretary may prescribe such regulations and other guidance as may be necessary or appropriate to carry out this section.

    This adds a new section providing tax credits for issuers of American infrastructure bonds, establishing the mechanics of payment and tax treatment.

  • table of sections for subchapter B of chapter 65 of subtitle F of the Internal Revenue Code of 1986

    Sec. 6431. Credit to issuer of american infrastructure bonds.

    This adds a new item to the table of sections, referencing the newly created section for American infrastructure bonds.

  • section 6211(b)(4) of such Code

    6431,

    This modifies a section to include the new section number for American infrastructure bonds.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 7 co-sponsors · 539 not signed on

Sponsors (1)

Co-sponsors (7)

Not signed on (539)

539 members have not signed on to this bill.

Show all 539 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety finance transportation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 1480?
S 1480 is sponsored by Wicker, Roger F. (Republican), Bennet, Michael F. (Democratic), Britt, Katie Boyd (Republican), Hyde-Smith, Cindy (Republican), Cortez Masto, Catherine (Democratic), Kelly, Mark (Democratic), Kaine, Tim (Democratic), and Coons, Christopher A. (Democratic).
What is the current status of S 1480?
This bill is in committee in the Senate. Introduced April 10, 2025. It must pass committee before a floor vote.
Where can I track S 1480?
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