H.R.1846 - Bridge to Sustainable Infrastructure Act114th Congress (2015-2016)
|Sponsor:||Rep. Renacci, James B. [R-OH-16] (Introduced 04/16/2015)|
|Committees:||House - Ways and Means; Transportation and Infrastructure; Rules|
|Latest Action:||House - 04/17/2015 Referred to the Subcommittee on Highways and Transit. (All Actions)|
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Summary: H.R.1846 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (04/16/2015)
Bridge to Sustainable Infrastructure Act
This bill amends the Internal Revenue Code to require an inflation adjustment in calendar years after 2015 to the rates of the excise taxes on petroleum and petroleum products, diesel fuel, alcohol-based fuel, and fuels used in certain buses.
Appropriations are advanced to the Highway Account and the Mass Transit Account in the Highway Trust Fund (HTF) in anticipation of a shortfall in funding in 2015. Such advances must be repaid from the HTF to the general fund of the Treasury.
There is established in the legislative branch the Bipartisan Task Force for Sustainable Highway Funding. The Task Force shall identify and make recommendations addressing factors that affect the long-term fiscal imbalance of the HTF.
The rates of excise taxes on petroleum and diesel fuels are increased to cover an identified three- and five-year shortfall in funding of the HTF in 2017 and each subsequent calendar year through 2024.