Trump Tax Reform Plan Likely Won't Fund Infrastructure

The administration released a sweeping tax plan on Wednesday that does not include money to rebuild U.S. roads, bridges, airports or other public works.

The Hill

Hope is fading on Capitol Hill that tax reform will be used to pay for President Trump’s $1 trillion infrastructure package.The administration released a sweeping tax plan on Wednesday that does not include money to revitalize U.S. roads, bridges, airports or other public works.

The one-page proposal includes repatriation, or taxing corporate earnings stashed overseas at a lower rate when it returns to the U.S., but does not indicate what the revenue should be spent on. Proponents of using repatriation as a funding tool for infrastructure are worried about the message that the White House is sending with the tax plan.

“This isn’t a good sign… It’s a punch in the gut,” Rep. John Delaney (D-Md.) said in a telephone interview with TheHill.com. “I think [Trump] has basically told people today he doesn’t want to do infrastructure.”

Delaney, who sponsors legislation to use repatriation to pay for transportation upgrades, has long argued that a massive infrastructure bill won’t get over the finish line in Congress unless it’s paired with tax reform. 

Read the full report from The Hill

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