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BREAKING NEWS
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The Central Ohio Transit Authority in Columbus seeks a president & CEO. [More]
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C-TRAN, Vancouver, WA, is looking for a chief operations officer. [More]
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York Region Transit in Ontario seeks proposals for integrated Mobility Plus and on-demand transit operations services, as well as the required vehicles. [More]
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| TO PLACE AN AD: E-mail the requested date(s) of publication to: ptads@apta.com. Mailing address is: Passenger Transport, 1300 I Street NW, Suite 1200 East,
Washington, DC 20005. Ad copy is not accepted by phone. DEADLINE: 3 p.m. EST, Friday, one week prior to publication date. INFORMATION: Phone (202) 496-4877. |
APTA Responds to House GOP Tax Plan
House Republican members released their proposed overhaul of the tax code on Nov. 2. The “Tax Cuts and Jobs Act” (H.R. 1) would reduce tax rates for corporations and individuals while eliminating many long-standing deductions.
APTA released a statement supporting the bill’s commitment to maintain the tax-exempt status of municipal bonds—a vital financing tool for state and local government-sponsored transportation projects—however, the association expressed disappointment that the proposal did not address four major priorities for the public transit industry.
Specifically, the GOP plan:
1) Fails to fix the long-term solvency problem of the Highway Trust Fund (HTF) at a time when more than 250 House Members support action to address the HTF issues.
2) Removes the current tax deduction for employers who help defray the cost of commuting for their employees, thereby creating a possible disincentive for workplaces to offer this critical benefit. The bill would retain the commuter tax benefit for individuals as the pretax payroll deduction.
3) Fails to renew or permanently extend the federal tax credits for alternative fuels and related infrastructure that expired on Dec. 31, 2016, which could discourage future investment in compressed natural gas or liquefied natural gas fleets. APTA also supports extending this type of tax credit to include electric and hybrid-electric vehicles.
4) Repeals the use of Private Activity Bonds, which are an important infrastructure financing mechanism, thus eliminating PABs as a tool to attract private-sector investment and encourage public-private partnerships.
APTA urged Congress to “use this once-in-a-generation opportunity to reform the tax code to encourage greater investment in our nation’s infrastructure.” For more details, see the Legislative Alert here and read APTA’s letter to the members of the House Committee on Ways and Means here.
The House Ways and Means Committee is expected to mark up this legislation Monday, Nov. 6, at noon.
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