In advance of the U.S. Senate’s release of their proposed revision of the tax code, NSSGA and the Highway Materials Group (HMG) asked key lawmakers to address the long-term sustainability of the Highway Trust Fund (HTF) as part of any comprehensive agreement on tax reform.
The group outlined the need for maintaining the tax-exempt status of Private Activity Bonds, which are a crucial financing tool issued by or on behalf of states and local governments for surface transportation projects, airports and port facilities.
NSSGA is a leader of the 11-member HMG, and previously asked the U.S. House of Representatives to include key elements such as deductions and exemptions in their tax reform bill. Before the House unveiled it’s bill, the association sent a letter to members of the House Ways and Means Committee explaining the benefits of including percentage depletion, Like-Kind Exchanges and the LIFO accounting method for aggregates operations.
NSSGA will continue to review the bills from the House and Senate and advocate for the industry as Congress proceeds on tax reform.