PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Register Now for D+D 2014

Paint and Coatings Industry News

Main News Page


Bridge Bill Leverages Foreign Capital

Wednesday, May 15, 2013

More items for Program/Project Management

Comment | More

U.S. Sen. Rand Paul has proposed a bill to fix deteriorating roads and bridges using taxes and dividends from overseas corporations with shareholders in the U.S.

Paul (R-KY) introduced S.911, "A bill to establish an emergency transportation safety fund, and for other purposes," on Thursday (May 9) to create funding for emergency transportation projects.

The measure would provide funds for new construction and repair existing bridges and roads.

The projects would be funded by repatriating overseas capital back to the U.S. at a rate of 5 percent. The existing repatriation rate can be as high as 35 percent;  by reducing it, Paul contends, U.S. companies would have a greater incentive to bring funds back to the U.S.

emergency transportation bill
fastlane.dot.gov

Sen. Rand Paul's proposed bill would use funds from overseas capital to repair emergency transportation projects, which would be prioritized by a list of criteria.

Some of the U.S.'s largest corporations, including Google, Apple and Microsoft, have amassed large profits outside the country and have pressed Congress and the Obama administration for a tax break to bring the money home, the New York Times reports.

Paul's bill would address that need while putting some of the money corporations save to public use.

No Increase to Debt

"While we are faced with a fiscal crisis, our nation also has critical infrastructure needs that demand immediate attention," Paul said in announcing the bill.

"The Emergency Transportation Safety Fund Act is a fiscally responsible approach by providing the necessary resources to rebuild and enhance America's infrastructure."

He also said that his bill would not increase the national debt.

"My plan will not only save our infrastructure from collapsing, but also encourage reinvestment here at home without increasing the debt," said Paul.

Prioritizing Projects

Amounts deposited into the Emergency Transportation Safety Fund are authorized "to be obligated to carry out, in priority order, the projects on the current list compiled by the Secretary."

Ran Paul

"My plan will not only save our infrastructure from collapsing, but also encourage reinvestment here at home without increasing debt," Paul said.

The list of projects and transportation priorities would be compiled by the Secretary of Transportation after consulting with a "representative sample" of state and local government transportation officials. The list will include prioritized emergency transportation projects to guide the allocation of funding.

The Secretary will have a list of criteria, and can establish additional criteria, to rank priorities by:

  • Whether the project is part of the interstate highway system;
  • Whether the project is a road or bridge that is closed for safety reasons;
  • The impact of the project on interstate commerce;
  • The volume of traffic affected by the project; and
  • The overall value of the project or entity.

If enacted, the Secratary would have 120 days to submit a report to Congress that includes a list of prioritized emergency projects and a description of the criteria used.

Additionally, the Secretary would have to provide quarterly updates, sending a copy to Congress and making a copy available to the public through the Department of Transportation's website.

The bill was referred to the Committee on Finance.

   

Tagged categories: Bridges; Business matters; Department of Transportation (DOT); Government; Infrastructure; Laws and litigation; Roads/Highways

Comment Join the Conversation:

Sign in to our community to add your comments.

JPCL Europe
Special EMEA edition!

Now, the publisher of JPCL offers essential news and knowledge for protective and marine coatings professionals in Europe, the Middle East and Africa: www.jpcleurope.com


SAFE Systems, Inc.
Custom blast rooms
by SAFE Systems

Don't waste time and money "making do" with a "standard" design. Let us work with you to design and build the
system that best fits
your requirements.
Call 1-800-634-7278


Minerals Research & Recovery
PREMIUM SLAG ABRASIVES

Visit mrrinc.com Companies specializing
in abandonment and decommissioning projects have discovered that Sharpshot® 20X50 copper slag is an ideal product for subsea waterjet cutting.
Call Steve: 520-297-4626


Sherwin-Williams

Sherwin-Williams
Our 3,500 locations give you a level of service that is simply unmatched.


U.S. Zinc

Combat deterioration and corrosion with our zinc dust in your paints and coatings. U.S. Zinc – Helping the world work™


Abrasives Inc.
One Call Orders it All!

Life is good when it’s simple. We distribute Clemco blast equipment, nozzles & parts alongside our proven blast media. Make your call: Abrasives Inc. 800-584-7524


US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com