In light of President Trump’s declared “Infrastructure Week,” there has been some discussion on how to fund infrastructure improvements. CNBC’s Squawk Box anchor Joe Kernan has been promoting a gas tax, which is regressive and disproportionately affects lower to middle income Americans. Meanwhile, American corporations have stashed $3 trillion dollars in overseas banks to avoid paying taxes … Why not work a deal with American corporations to bring some of that money back to fund an Infrastructure Bank? That way, American corporations have some skin in the game, since they use American infrastructure (airways, airports, waterways, roads, train tracks, Internet, ports, etc) to make money! Since all tax legislation originates in the House of Representatives, the House Ways and Means Committee should work with the Treasury Department to offer incentives to encourage American corporations’ investment in America’s infrastructure.
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