Tag Archive for Highway Trust Fund

A Special Report From Capitol Hill

TaxConnections Picture - Capitol Building - square

Before Congress adjourned for its July 4th recess, a number of House and Senate committees and subcommittees deliberated over legislation to address the Highway Trust Fund (HTF), Corporate Tax Inversions, and Tax Extenders amongst other matters including, but not limited to, the subsequent highlights:

• The Senate Finance Committee Chairman Ron Wyden, D-Ore., on June 24 unveiled a measure, the Preserving America’s Transit and Highways (PATH) Bill, to raise $9 billion to temporarily bolster the HTF with modifications to heavy vehicle use taxes, distribution from inherited IRAs and a handful of other modest tax changes. However, two days later, a modified Chairman’s Mark for the PATH Bill fell short of the revenue needed. Wyden said the markup would resume during the week beginning July 7 when Congress returns from Read more