U.S. Senators to introduce bipartisan transportation bill
U.S. Senators Barbara Boxer (D-Calif.) and Rand Paul (R-Ky.) announced that they will be introducing the “Invest in Transportation Act of 2015,” which would extend the Highway Trust Fund, boost economic growth and create jobs.
The legislation would allow companies to voluntarily return their foreign earnings to the U.S. at a tax rate of 6.5 percent and would ensure that a portion of the repatriated funds would be used for increased hiring, wages and pensions.
In addition, through the bill, all tax revenues from the repatriation program would be transferred into the Highway Trust Fund.
The senators released a white paper detailing their proposal, which will be introduced in the coming weeks.
“This bipartisan repatriation proposal is a win-win for our economy and our country,” says Boxer. “First, it will bring back hundreds of billions of dollars in foreign earnings that are sitting offshore, which can be invested here in America to create jobs. Second, the taxes paid on those earnings will be used to extend the Highway Trust Fund, which supports millions of jobs nationwide.”
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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