CAGTC Members,
The final tax reform bill is expected to pass both Chambers of Congress today and could be signed into law by President Trump as early as tomorrow, December 20. The bill did not include funding for infrastructure as some had hoped it would. However, due to the large coalition working to maintain the tax exempt status for Private Activity Bonds (PABs), the final bill followed the Senate’s lead and preserved the tax exempt status. Thank you to all of our members who assisted in our work on this issue by contacting your Members of Congress. With the Administration saying that their 70-page plan for an infrastructure package will be released sometime early next year, we need to grow available funding and financing options rather than eliminating existing tools.
For those interested, here are a couple of links providing a summary of what is in the tax reform proposal currently before Congress:
- https://www.nytimes.com/interactive/2017/12/15/us/politics/final-republican-tax-bill-cuts.html
- https://www.forbes.com/sites/kellyphillipserb/2017/12/15/its-beginning-to-look-a-lot-like-tax-reform-heres-whats-in-the-final-version/#68be48f54d63
Thank you,
Katie Cross
Manager, Member Communications & Policy
Coalition for America’s Gateways and Trade Corridors
1625 K Street NW
Suite 1100
Washington, DC 20006
tradecorridors.org