Tax Policy Update - June 02, 2015

NUMBER OF THE WEEK: 68,000.  The estimated number of vehicles that traverse the Memorial Bridge between Arlington, Va., and Washington, D.C., each day—now with increasingly frustrated drivers stuck in snarled traffic after two lanes of the 83-year-old bridge had to be shut down for emergency repairs, estimated to take at least six months to complete. Critics of Congress's inability to pass a long-term highway funding bill say the iconic bridge—and its now-iconic traffic—is a symbol of congressional inaction. Lawmakers are increasingly looking to tax reform—especially changes to international tax provisions—to come up with the money for a long-term funding authorization.

LEGISLATIVE LANDSCAPE