On the recordSeptember 30, 2015
Politico yesterday had a fascinating story about Chuck Schumer, widely expected to become the next Democratic leader in the Senate, in talks with Republican leaders in the House and Senate about a major tax and infrastructure deal. It would give a lower tax rate on hundreds of billions of dollars parked overseas by international corporations and use the tax on those proceeds to finance a more robust 6-year transportation bill. What is not to like? I have been working tirelessly for us to be able to finance America's failing infrastructure, having introduced the first gas tax increase on the Federal level in 22 years. I have been working with stakeholders, like the U.S. Chamber of Commerce, organized labor, truckers, AAA, contractors, transit, the whole array of people who build, operate, use, and rely upon American infrastructure. I am sympathetic to getting this job done. America is falling apart while we are falling behind. It doesn't work to try to pay for 2015 infrastructure with 1993 dollars. The simple answer that Ronald Reagan successfully championed as President was raising the gas tax, in his case, 125 percent. It is taking hold around the country as even very red Republican States--six already this year--have raised their gas taxes, and our legislation in Congress is gaining more attention as people understand that this is the best way forward to solve the problem. What is wrong with the deal that is being examined by Senator Schumer?…





