With a major transportation funding shortfall projected for next year, Rep. Earl Blumenauer (D-Ore.) introduced legislation on Dec. 4 to increase the federal fuel tax 15-cents per gallon over three years. Rep. Blumenauer also proposes a study into mileage-based fees to fund transportation.
12-06-2013 Senate Environment and Public Works Committee Chairman Barbara Boxer (D-Calif.) is waiting for action on tax reform legislation before proceeding with the transportation bill. Sen. Boxer and Senate Finance Committee Chairman Max Baucus (D-Mont.) have said that tax changes are needed to fix the Highway Trust Fund. Proposals being discussed include increasing the federal gas tax or implementing another fee that would go towards highway programs.
11-22-2013 House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa.) said Sept. 11 that a comprehensive tax code rewrite could be the solution to fixing the insolvency of the Highway Trust Fund, according to BNA.
09-13-2013 Senate Finance Committee Chairman Max Baucus said his committee will consider revamping the U.S. tax code this year to lower tax rates and broaden the tax base. Similar efforts are underway in the U.S. House of Representatives, where Ways and Means Committee Chairman Dave Camp (R-Mich.) is pushing a tax rewrite.
07-24-2013 The Internal Revenue Service announced that it has finished updating its tax-processing system software allowing business and individual taxpayers to once again electronically file 2012 federal tax returns, including motor fuel excise tax returns, biodiesel credit claims as well as alternative fuel and alternative fuel mixture credits and income tax returns.
03-18-2013 The U.S. House of Representatives last week voted 256 to 171 in favor of H.R. 8, the “Job Protection and Recession Prevention Act,” which would extend the 2001 and 2003 tax rates through 2013.
08-06-2012 The Senate failed to end debate on the Small Business Jobs and Tax Relief Act last week. S. 2237 would extend write-offs for capital investment and award a 10 percent tax credit to companies that add workers to their payrolls or increase wages.
07-16-2012 NATSO and others have advocated an extension of the biodiesel blenders tax credit that expired last year.
06-18-2012 U.S. House of Representatives voted 235-173 in favor of the Small Business Tax Cut Act last week.
04-23-2012