President Barack Obama unveiled his annual budget Monday, which includes a proposition to tax corporate foreign earnings to fund the nation’s roads.
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Alongside 11 former U.S. Department of Transportation secretaries, current secretary Anthony Foxx urged both houses of Congress to find a long-term solution to the funding of the U.S. Highway Trust Fund beyond what is under consideration at present.
Amid touring the Turner-Fairbank Highway Research Center in McLean, Va. and having a go at a driving simulator based upon a Saturn SL, President Barack Obama talked about connected vehicles and increasing highway funding before reporters in attendance Tuesday.
For over two decades, the federal fuel tax has held at 18.4 cents for gasoline and 24.4 cents for diesel per gallon sold. A bipartisan bill working through the United States Senate could soon change this, especially as the nation’s Highway Trust Fund — used for funding infrastructure projects — comes closer to running dry by August of this year.
As those inside the Beltway debate how best to fund their responsibility for the nation’s transportation infrastructure, a AAA study finds most Americans would pay more taxes for better roads.
A $302 billion, four-year plan to fund the U.S. Highway Trust Fund — and, in turn, any road and transit projects on the table during the period — was brought before Congress by the Obama administration through the U.S. Department of Transportation.
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