House Ways and Means Committee Chairman Paul Ryan (R-Wisc.) said lawmakers are working on a $10 billion short-term extension to the Highway Trust Fund to keep it solvent through the end of this year.
Rep. Ryan did not say how the measure would be paid for, but he ruled out repatriation as a means of funding the nation’s highway program, which is set to expire May 31.
Responding to questions at an April 30 breakfast hosted by the Christian Science Monitor, Rep. Ryan told reporters, “We’re working on that right now. I’ll give you the answer to your question in about three weeks, because I don’t have it right now.”
Rep. Ryan reportedly said that neither a short-term nor a long-term highway bill would be funded by an international tax holiday because “repatriation does not work.”
Rep Ryan has said previously that repatriation of corporate earnings held overseas would help to fix the Highway Trust Fund provided it was part of overall corporate tax reform.
House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa.) said recently that he's working with the House leadership and members of the Ways and Means Committee to work out a deal and that he hopes any patch will last at least through the summer construction season.
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