Tag Archives: Federal Highway Trust Fund
The recently passed federal highway bill, Fixing America’s Surface Transportation Act, or the FAST Act, creates a new section of the U.S. tax code, 7345, entitled, “Revocation or Denial of Passport in Case of Certain Tax Delinquencies.” No matter how you look at the two IRS power grabs, it spells trouble for the taxpayer. Whether you’ll become a prisoner in your own country by being denied a passport, or harassed by unethical and ruthless IRS sanctioned private debt collectors to settle an alleged tax debt, the Republican leadership in Congress delivered this anti-liberty, big government reality to your doorstep after voters gave them the keys to the Capitol to do just the opposite. Continue reading
Both federal and state lawmakers are discovering tolls are just as unpopular as a gas tax hike and that they’re far more expensive for taxpayers than a gas tax funded highway system. The U.S. Senate tried to expand interstate tolling in its draft of the federal highway bill only to have it slapped down by a coalition of anti-toll groups, with Alliance for Toll-free Interstates leading the charge. The U.S. House is contemplating the same expansion and is running afoul of the same angry taxpayers. Continue reading
It’s a wrap. After over 200 days in session this year, the Texas legislature finally agreed upon a transportation funding bill that will go to the voters for approval in November 2014. The Constitutional amendment would divert half of the oil and gas severance tax that funds the state’s emergency fund, or Rainy Day Fund, to roads, giving the highway department a potential boost of $1.2 billion annually. Lawmakers readily acknowledge it’s a stop gap measure since the agency needs $4 billion more per year.