To amend title 49, United States Code, to make modifications to the passenger facility charge program administered by the Federal Aviation Administration, and for other purposes.

Investing in America: Rebuilding America's Airport Infrastructure Act This bill reauthorizes through FY2021 and revises the Airport Improvement Program. Specifically, the bill: (1) eliminates the federal cap on passenger facility charges (local user fees) of $4.50 per enplanement; and (2) with respect to large hub airports that increase such charges beyond $4.50 per enplanement, provides for corresponding reductions in program grant funding.