RandomVariable
VIP Member
- Jan 7, 2014
- 5,103
- 360
- 85
Can Congress kludge its way to an infrastructure bill?
By Ryan Cooper. January 21 at 12:14 pm
By Ryan Cooper. January 21 at 12:14 pm
Some members of Congress are, it turns out, mulling an infrastructure proposal. It isnt much, but it might just be crazy enough to work. And it has something resembling bipartisan support: its two chief champions are Dem Rep. John Delaney of Maryland and Senator Roy Blunt of Missouri. Heres the deal:
The bill is an attempt to address twin problems: How to fund transportation with the traditional source the federal gas tax of 18.4 cents a gallon at deaths door. And how to entice U.S. corporations, which have stashed an estimated $1.45 trillion abroad, to bring that money home. Delaneys plan would create a $50 billion federal fund to bankroll loans and leverage private investment for transportation and other infrastructure. The money would come from bonds bought by companies who want a tax break if they bring cash earned abroad back to the United States.