Overseas-Tax Change May Be Best to Fund Highways, Foxx Says
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A one-time tax change related to U.S. companies’ overseas earnings is the most feasible way to provide the additional funding needed to rebuild aging highways and mass transit systems, Transportation Secretary Anthony Foxx said.
Other ideas being considered are falling flat and time is running out to replenish the Highway Trust Fund this year, Foxx said at a Bloomberg Government event in Washington today. Proposals to increase the 18.4-cent-per-gallon gas tax or other fees on drivers can’t clear Congress anytime soon, Foxx said.