With no end in sight to the Government shutdown, Mississippi Congressman Steven Palazzo has introduced a bill that would finance the construction of a wall along the southern border.
Representatives Steven Palazzo (MS-04) and Andy Harris, M.D. (MD-01) Members of the House Appropriations Committee introduced the Border Bonds for America Act of 2019 to authorize the Secretary of the Treasury to sell revenue bonds that will financially support the construction and improvement of security infrastructure at the southern border wall and improve security infrastructure at the southern border.
“Border security is national security,” said Palazzo. “We can’t afford to let political games get in the way of protecting our nation and its citizens. Our bill allows bonds to be purchased by American citizens in order to fund the border wall. It also allows the Administration to utilize financial resources, including donations by the American people, for the wall that Democrats refuse to provide. Historically, we’ve seen Americans rise to the occasion to support the defense of our country, and this is no different.”
The legislation establishes the Border Bonds Trust Fund within the Department of the Treasury and would allow private citizens to purchase Border Bonds from the U.S., a process similar to the one used during WWII when the American people bought War Bonds.
“It’s exactly what the American people did in WWII,” Palazzo said. “I think 85 million Americans raised $185 billion by selling war bonds in WWII which financed more than half of the war effort during that time frame and so we just basically copied the same language from what we did in the war bonds and we are giving the United States Treasury permission to create border bonds.”
The proceeds of those sales would then go directly to the border bonds trust fund established by the bill. The trust fund is designed as a lockbox to ensure these funds are only used to build the southern border wall.
“If the Democrats in Congress are going to prevent Congress and this President from securing America’s borders, then let’s give an option to the American people to step up as they always seem to do when Congress can’t do their job and secure America,” Palazzo said.
Palazzo added that the bonds have been capped at $5 billion, however, it could be increased if more money is needed.
“This bill will create Border Bonds to fund the immediate construction of the wall to help our nation confront the growing humanitarian and security crisis created by failed open border policies,” said Maryland Congressman Andy Harris. “We must do everything we can to secure our borders as failure is not an option.”