Congress Approves Two-Year Transportation Bill
On Friday Congress passed a transportation bill that secures $120 billion in federal funding for highway, bridge, rail, and mass transit projects for twenty-seven months (NYT). The advocacy group Taxpayers for Common Sense expects the program to require $18.8 billion in general tax revenue to supplement funds from gasoline and diesel taxes; fuel tax rates have not changed since 1993. The editors of the New York Times were generally optimistic, though acknowledged the bill was flawed. Judith Rodin was more pessimistic, arguing that the bill was “a significant step backward” (The Atlantic).
The first Renewing America Progress Report and Infographic Scorecard, assesses the current state of U.S. transportation infrastructure policy. The report concluded that, even with passage of the bill, “the United States will struggle simply to maintain, much less improve, its transportation infrastructure.”
- Steven J Markovich
blogs.cfr.org/renewing-america/2012/07/02/morning-brief-delaware-the-onshore-tax-haven/
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