Washington, D.C. – Congressman Ted. S. Yoho (R-FL), Chairman of the House Foreign Affairs Subcommittee on Asia and the Pacific, and Congressman Adam Smith (D-WA) released the following statements after a full committee mark up of their Better Utilization of Investments Leading to Development Act (BUILD) - H.R. 5105.
“Passage of the BUILD Act out of the House Foreign Affairs Committee is a significant milestone towards helping to bring U.S. international development financing into the 21st century,” said Rep Adam Smith. “I worked closely with Chairman Royce and Subcommittee Chairman Yoho on an amendment to help focus the new institution on sustainable, broad-based development programs that support social and economic outcomes. I was very pleased to see several additional amendments pass which strengthened labor and environmental standards, as well as oversight and transparency in the new institution. This bill is an example of what bipartisan cooperation can accomplish, and I look forward to the next steps.”
“Today we have taken another important step forward in modernizing America’s development finance system,” said Rep. Ted Yoho. “The BUILD Act will make our nation more competitive on the global stage and the distribution of our foreign aid dollars more efficient. Thank you to Chairman Ed Royce, Ranking Member Eliot Engle, Congressman Adam Smith, and all my colleagues for their continued support of this bipartisan, bicameral bill. I look forward to having President Trump sign the BUILD Act into law eventually.”