Recent coverage in the New York Times has highlighted Congressman John K. Delaney’s work to build bipartisan support for using international tax reform to rebuild America’s infrastructure.
July 16th reporting on the latest efforts to fix the Highway Trust Fund included the following:
“In the last two years, an idea that began as an outlandish proposal by a freshman House Democrat, John Delaney of Maryland, has evolved into the closest thing to consensus on infrastructure funding.
“The idea: Rewrite the tax code governing United States corporations operating internationally to end the unintended incentive for those companies to leave trillions of dollars in profits overseas, and add a component taxing those overseas profits. Much of the windfall on that one-time ‘transition’ tax would be dedicated to infrastructure spending.”
Delaney is the author of the bipartisan Infrastructure 2.0 Act, which uses revenues from international tax reform to fund a six-year highway bill at increased levels and create a new American Infrastructure Fund, a resource for state and local governments.
The Highway Trust Fund faces an annual budget shortfall and absent legislative action will expire at the end of July.
Since 2013, Delaney has met personally with over 100 Republicans and 100 Democrats in Congress to build support for using repatriation to rebuild America.
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