Senate Democrats unveil $9B for highway bill
Measure to prevent cut-off of transportation funds
6/24/2014WASHINGTON — Senate Democrats have unveiled a $9 billion plan to prevent states from facing a cutoff of federal highway construction money as early as this summer.
Finance Committee Chairman Ron Wyden proposed the measure, which would raise taxes on heavy trucks as part of a plan to keep the U.S. highway fund solvent through the end of the year.
The measure also tightens reporting requirements for the mortgage interest deduction and toughens the rules for requiring payment of taxes when people under-report income from property sales.
House GOP leaders have suggested using savings from allowing the Postal Service to end Saturday mail delivery as a way to finance highway projects.
The Finance panel is slated to vote on the measure on Thursday