WASHINGTON, D.C. – U.S. Senator Rand Paul today introduced an amendment to H.R. 22, the vehicle for the highway bill, which would extend the Highway Trust Fund. The amendment would boost economic growth and create jobs by providing an incentive for companies to bring back some of the estimated $2 trillion in foreign earnings that are being held overseas. All tax revenues from the repatriation program would be transferred into the Highway Trust Fund, helping to address the urgent federal funding crisis facing America’s highways, bridges, and transit systems.
Sen. Paul originally introduced S. 981, The Invest in Transportation Act of 2015 earlier this year, co-sponsored by Sens. Barbara Boxer (D-CA), Kelly Ayotte (R-NH), Steve Daines (R-MT), Cory Gardner (R-CO), and Roger Wicker (R-MS).
“Our nation’s highways and bridges are in desperate need of repair and demand our immediate attention. My amendment is a fiscally responsible approach to providing the necessary resources to correct the shortfalls in the Highway Trust Fund, while strengthening the U.S. economy and keeping jobs here at home,” Sen. Paul said.
Click HERE to read the amendment in its entirety.