WASHINGTON (June 24, 2014) U.S. Senate Democrats Tuesday unveiled a $9 billion plan that would spare states from a cutoff of federal highway construction money as early as this summer.
Senate Finance Committee Chairman Ron Wyden proposed the measure, which would raise taxes on heavy trucks as part of a plan to keep the U.S. highway fund solvent through the end of the year.
The measure would also tighten reporting requirements for the mortgage interest deduction and toughen the rules for requiring payment of taxes when people under-report income from property sales.
House GOP leaders have suggested using savings from allowing the Postal Service to end Saturday mail delivery as a way to finance highway projects.
The Finance panel is slated to vote on the measure on Thursday