Sen. Paul Introduces Emergency Transportation Safety Fund Act
Yesterday, Sen. Rand Paul introduced legislation to establish the Emergency Transportation Safety Fund Act, which would provide funding for new construction, repair, and replacement of crumbling bridges and roads. The bill will make funding a priority to emergency infrastructure projects by directing revenues reaped from allowing overseas capital to be repatriated back to the United States at a low 5 percent rate into a special transportation fund. By reducing the existing repatriation rate, U.S. companies will have greater incentive to bring funds back to the United States for reinvestment.
"While we are faced with a fiscal crisis, our nation also has critical infrastructure needs that demand immediate attention. The Emergency Transportation Safety Fund Act is a fiscally responsible approach by providing the necessary resources to rebuild and enhance America's infrastructure. My plan will not only save our infrastructure from collapsing, but also encourage reinvestment here at home without increasing the debt," Sen. Paul said.