Senators Rand Paul (R-Ky.) and Barbara Boxer (D-Calif.) may soon unveil a highway funding bill that would direct money to the struggling Highway Trust Fund from taxes on companies’ overseas earnings, according to Politico’s Morning Transportation report from Jan. 22.
Paul, however, did not mention any specifics in his announcement about a potential bill of what may be included.
Paul did say the bill could face an uphill battle for support among members of his own party, who he says only support repatriation as part of bigger tax reform legislation.
Congress passed a stopgap measure last summer to fund U.S. highways through May. Lawmakers must pass another bill by its expiration to keep the Highway Trust Fund afloat.
Article written by James Jaillet, editor for Overdrive Online and CCJ Digital.