Hopes Fading for Using Tax Reform on Infrastructure?

The administration released a one-page tax reform proposal yesterday that does not specify money for infrastructure. The plan includes repatriation of overseas earnings, but does not state how the revenue will be used. This raises concerns that the revenue will be used to offset rate changes and other provisions, and not as a source for funding infrastructure. Congressional transportation leaders previously indicated that they did not expect to see infrastructure in the plan, but in recent days optimism grew that it would be included. Trump’s proposal is just the starting point for introducing a comprehensive tax reform package later this year, so changes are likely.

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