Tag: ‘Highway Trust Fund’

Dreaming Impossible Dreams

By :: October 19th, 2015

The House may have a bipartisan transportation bill. The measure would authorize highway spending for another six years. But while it sets $325 billion in infrastructure spending over six years, it guarantees only the first three years of funding. The last three years? Congress would have to “unlock” funding  after it identifies offsets. In other words, […]

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Five Tax Stories To Watch in What Will Be a Wild Fall in Congress and on the Campaign Trail

By :: September 8th, 2015

Congress is back. Fiscal deadlines loom. Presidential candidates have tax plans to propose. It isn’t clear how much lawmakers will accomplish in the next four months, but it will be a busy and interesting fall. Here are five stories to watch: International Tax Reform: House Republicans insist they want to try to rewrite the tax […]

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How Did the Gas Tax Lose Its Mojo, Even Among Conservatives?

By :: July 27th, 2015

With just a few days left before federal funding for highway programs expires, the Senate is debating all sorts of amendments to an extension– from export subsidies to the Affordable Care Act. But there is one subject it will not debate—the gas tax. Except for a handful of lawmakers, nobody in Congress or the White House […]

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Highway Follies: The Never-ending Story

By :: July 15th, 2015

The House has a short-term patch for the Highway Trust Fund… Late Monday night, the House Ways & Means Committee released a plan to cover the Highway Trust Fund with $8.1 billion through mid-December 2015. The patch would use revenue collected by tightening IRS compliance rules. The House could vote on the bill today. But […]

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Six-Year Road Funding, Renewals on Repeat, and Investigations

By :: July 13th, 2015

Highway funding: Will the House GOP play the long game? Ways & Means Chair Paul Ryan wants to pair international tax changes with six-year funding for highways, and he wants it done this year. To buy time to flesh out his plan to use revenue from a one-time tax on foreign profits of US companies, […]

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“Take me home, country road… To a fund (and a country), that’s not broke.”

By :: July 10th, 2015

Greece: “Ne” to new sales taxes and (maybe) tax reform. The beleaguered Greek government has offered a new reform plan in return for $55 billion in European Union bailout money—and it reportedly includes new sales taxes, new levies on cafes and restaurants (read: tourists) and possible tax reform, along with more spending and pension cuts. […]

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How Will Congress Fund Roads and Transit?

By :: July 7th, 2015

In 24 days, federal spending authority under the highway trust fund comes to an end. Without legislation to keep the program going and money to finance it, road projects will slow in the midst of high construction season. And where are Congress and the White House on this perennial issue? Nowhere. In late June, after […]

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One more step for equality, and two views on state EITCs

By :: June 29th, 2015

Congress is in recess. The Daily Deduction will return to its regular schedule on Monday, July 6. Wyden promises tax changes in the wake of the Supreme Court’s decision on same-sex marriage. Following the Obergefell v. Hodges decision, senior Senate Finance Committee Democrat Ron Wyden said Friday, “As lawmakers, we must now turn our attention […]

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No Breaks, Less Sugar, and More Refunds

By :: June 22nd, 2015

Texas Governor Greg Abbott says “no” to a tax break for big corporations. The Republican just vetoed a bill aimed at expanding a tax incentive for wind farms and petrochemical firms along the Gulf Coast. Subsidy backers claim it helps the firms generate jobs, but Abbott doesn’t think it’s worth the money. A 2013 study […]

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When does “repeal” mean “reform?”

By :: June 19th, 2015

Another presidential candidate floats a flat tax, but would it sink under its own weight? This time it’s GOP contender Rand Paul. He’d replace the tax code with 14.5 percent in federal tax on all personal income, including wages, investment income, and rents. He’d repeal the Social Security and Medicare payroll tax but tax wages […]

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