Kevin McCarthy is a house majority leader, a republican from California and he has made exciting promises regarding a highway bill that would last for six years. This bill would take effect prior to this year’s October 31st deadline. McCarthy is currently a public favourite and if elected, would replace John Boehner as the Speaker of the House. McCarthy is very excited about the future and promises great change. This bill would be his first item of business and he plans to get this done without a tax hike in gas prices.
Also, this highway bill would get passed with tax reform laws at the same time; bringing in a great deal of profits for the United States. As more roads are needed in the U.S. as time progresses, this highway bill is imperative. Changes would occur immediately and people would see transportation results in areas that they have been waiting for change for some time now.
McCarthy’s plan is to get the funds from corporate overseas taxes. This would mean your average American is not going to experience a shocking increase in gas prices or taxes. A change in tax structure when it comes to territorial tax would indeed occur, but this would bring about long term transportation change as well as immediate plans taking place. The change would hardly be noticeable as far as American’s lives are concerned, but the changes would be positive overall for our Country. In relation to environmental controls, McCarthy says, “You’re going to see that they’re going to have the process if a state already has [the California Environmental Quality Act] involved there, is you don’t have to duplicate when it comes to the environmental controls.”
With the Highway Trust Fund set to expire on October 31st of this year, McCarthy is working hard to make change and stay true to his promise. Funds are available, however, through the third quarter of 2016 which will allow for some overlay. Short term plans have been put into place in the past, however more long term solutions have been desired for some time now. Both sides have been showing interest in this bill, especially thanks to the new long term plan that is detailed as part of this prospective bill.
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