Washington, D.C. – House Foreign Affairs Committee Chairman Ed Royce (R-CA) applauded the inclusion of the BUILD Act (H.R. 5105) in the FAA Reauthorization Act of 2018, which passed the House today. The legislation now heads to the Senate.

Chairman Royce said: “China and other authoritarian regimes are preying on the developing world. Their development finance programs, like Beijing’s Belt and Road Initiative, are saddling countries with unpayable debt and are not consistent with America’s democratic values.

“The U.S. cannot afford to sit on the sidelines. Today’s bill will build a modern U.S. development finance institution that will empower entrepreneurs, create jobs and reduce poverty in emerging markets. Not only is that a win for America’s exports and jobs, it also strengthens our national security.”