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Hopes fade for using tax reform on infrastructure

Hopes fade for using tax reform on infrastructure

The Hill
BY MELANIE ZANONA - 04/27/17 06:00 AM EDT

Hope is fading on Capitol Hill that tax reform will be used to pay for President Trump’s $1 trillion infrastructure package.

The administration released a sweeping tax plan on Wednesday that does not include money to revitalize U.S. roads, bridges, airports or other public works.

The one-page proposal includes repatriation, or taxing corporate earnings stashed overseas at a lower rate when it returns to the U.S., but does not indicate what the revenue should be spent on.

Proponents of using repatriation as a funding tool for infrastructure are worried about the message that the White House is sending with the tax plan.

“This isn’t a good sign… It’s a punch in the gut,” Rep. John Delaney (D-Md.) said in a telephone interview. “I think [Trump] has basically told people today he doesn’t want to do infrastructure.” FULL ARTICLE

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