government
House passes highway funding extension, awaits Senate response
Facing a July 31 deadline to get something done, The U.S. House of Representatives has passed an $8 billion measure to extend federal transportation funding into mid-December. The bill is set to go to the Senate, which is working on… Keep Reading
Report: Presidential veto a possibility for next highway patch
Transportation Secretary Anthony Foxx indicated President Obama might veto a Highway Trust Fund patch if Congress passes one before the July 31 expiration of federal transportation funding. According to The Hill, Foxx said Obama plans to wait and see what… Keep Reading
The art of recordkeeping
Knowing which documentation to save, and for how long, can make recordkeeping less of a hassle. The “tax season” may be long over but the need for good recordkeeping is not. Records are not only essential for tax deductions but,… Keep Reading
Senate bill would boost business with tax break on equipment, property
Sen. Pat Roberts, R-Kan., introduced legislation to amend the U.S. tax code and make permanent a 50 percent depreciation bonus on new equipment and property purchases. The tax break previously expired. According to a press release, the bill would allow… Keep Reading
Metric provides another reason for long-term funding solution
A Federal Highway Administration report (FHWA) provides new leverage for the passage of a long-term highway bill. In its latest monthly “Traffic Volume Trends” report, which was released near the end of June, FHWA says Americans have driven a record… Keep Reading
Federal funding pitfall prompts states to increase gas taxes
Six states will increase their gas taxes July 1 as a means to replace lacking federal funds for highway projects, according to the Citizens for Tax Justice and the Institute on Taxation and Economic Policy (ITEP). The Hill reports that… Keep Reading
Multiyear highway bill emerges
The Senate introduced a six-year, $275 billion bill to fund the federal government's highway program. The bill, called the Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act, appropriates nearly $43 billion per year for transportation spending, The… Keep Reading
Congress explores highway funding sources in hearings
Both chambers of Congress explored sources to fund a surface transportation bill during hearings on Capitol Hill, the National Stone, Sand & Gravel Association (NSSGA) reports. The House Ways and Means Committee held a hearing on the long-term financing of… Keep Reading
Gas tax hike unlikely, says House Majority Leader
Don't expect a gas tax increase anytime soon. That's what House Majority Leader Rep. Kevin McCarty (R-Calif.) tells the Wall Street Journal in an exclusive interview. “We make policy in the world of politics," McCarty says. "If you thought, “Well,… Keep Reading
