Statement from the Press Secretary

Statement from the Press Secretary

THE WHITE HOUSE

Office of the Press Secretary

FOR IMMEDIATE RELEASE

October 3, 2018

*Statement from the Press Secretary *

Today, Congress passed the Federal Aviation Administration (FAA)
Reauthorization Act of 2018 (the Act), which is a critical 5-year
reauthorization of FAA programs that invests in airport infrastructure,
promotes safety and American leadership in aviation including the efficient
integration of unmanned aircraft systems, and strengthens consumer service.

Also included with this Act is the Better Utilization of Investments
Leading to Development (BUILD) Act of 2018. With passage of the bipartisan
BUILD Act, Congress has taken an important step toward fulfilling the
commitment President Trump made to reform the United States’ development
finance institutions so that they better incentivize private sector
investment in emerging economies and provide strong alternatives to
state-directed initiatives that come with hidden strings attached.

The BUILD Act codifies the proposal in the President’s Fiscal Year 2019
Budget Request and government reorganization and reform plan to create a
consolidated, reformed Development Finance Institution with strong linkages
to the Department of State and the United States Agency for International
Development.

The legislation furthers the Administration’s goals to align United States
Government development finance with broader foreign policy and development
goals, minimize risk to the United States taxpayer, ensure development
finance catalyzes (rather than replaces) private-sector resources, and
increase efficiency in development finance programs.

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