625 -- Infrastructure 2.0 Act | Poliscope

Infrastructure 2.0 Act

625

114th Congress

Taxation

In Committee

Legislative Progress

✓

Introduced

Committee

Floor Vote

Other Chamber

Enacted

Introduced

January 30, 2015

Latest Action

February 2, 2015

Primary Sponsor

John K. DelaneyDemocratic(MD)

Momentum (last 30 days)

score

0 actions · 0 new cosponsors · 0 votes

Speed vs cohort

37pct

3d open

vs 6,526 other HR bills in the 114th — cohort avg 56d

Summary

Infrastructure 2.0 Act Amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profit subject to taxation in the last taxable year that ends before the enactment of this Act; (2) reduce the rate of tax on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow such corporations to elect to pay such tax in eight installments. Establishes the American Infrastructure Fund to provide assistance to states, local governments, and other public and private entities for investment in public infrastructure projects. Appropriates tax revenues from this Act to the Highway Trust Fund. Establishes the Highway Trust Fund Solvency Commission to submit recommendations and proposed legislation for achieving long-term solvency of the Highway Trust Fund. Sets forth congressional procedures for the expedited consideration of a bill containing such legislation. Directs the Secretary of Transportation to establish a regional infrastructure accelerator pilot program to assist public entities in developing infrastructure projects. Establishes a deadline of 18 months after the enactment of this Act for the enactment of legislation that reforms the international tax system by eliminating the incentive to hold earnings in low-tax jurisdictions. Imposes a tax on repatriated offshore corporate earnings upon the expiration of the deadline. Sets forth provisions for the reform of the international tax system (to be effective if reform legislation is not enacted by the 18-month deadline established by this Act), including provisions relating to subpart F income and insurance income, gains and losses from the sale or exchange of stock in controlled foreign corporations, limitations on the foreign tax credit, and the tax treatment of previously deferred foreign income.

Lobbying filings that explicitly cite this bill (50)

These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.

Filing registrants (19)

NATIONAL STONE, SAND & GRAVEL ASSOCIATION (4)CHAMBERS, CONLON & HARTWELL, LLC (5)WRIGHT STRATEGIES, LLC (2)CANFIELD & ASSOCIATES, INC. (8)ENS RESOURCES, INC. (1)AMERICAN CHEMISTRY COUNCIL (8)AMERICAN PUBLIC TRANSPORTATION ASSOCIATION (8)AMERICAN SOCIETY OF CIVIL ENGINEERS (8)ASSOCIATION OF AMERICAN RAILROADS (11)CHAMBER OF COMMERCE OF THE U.S.A. (8)

Show 9 more registrants

CORTEVA AGRISCIENCE LLC (FKA E.I. DU PONT DE NEMOURS AND COMPANY)

Subjects (27)

Accounting and auditing

Administrative law and regulatory procedures

Advisory bodies

Business expenses

Capital gains tax

Congressional operations and organization

Congressional oversight

Corporate finance and management

Department of the Treasury

Actions (8)

February 2, 2015

Referred to the Subcommittee on Water Resources and Environment.

February 2, 2015

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

February 2, 2015

Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

February 2, 2015

Referred to the Subcommittee on Coast Guard and Maritime Transportation.

February 2, 2015

Referred to the Subcommittee on Aviation.

February 2, 2015

Referred to the Subcommittee on Highways and Transit.

January 30, 2015

Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Congress.gov source codes: H11100, H11100-A

January 30, 2015

Introduced in House

Congress.gov source codes: 1000, Intro-H

Committees

Committee	Chamber	Activity	Date
Transportation and Infrastructure Committee	House	Referred to	January 30, 2015
Rules Committee	House	Referred to	January 30, 2015
Ways and Means Committee	House	Referred to	January 30, 2015

Text Versions

Version	Date	Links
Introduced in House	January 30, 2015	XML

Cosponsors (24)

Name	Party	State
Ann M. Kuster	Democratic	NH
Betty McCollum	Democratic	MN
Brad Ashford	Democratic	NE

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Sources: Congress.gov

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2016 · third_quarter · Government Issues