Boehner calls U.S. Republican highway funding plan 'really solid'

WASHINGTON Wed Jul 9, 2014 11:05am EDT

U.S. House Speaker John Boehner (R-OH) (front L) gestures as he addresses reporters during a news conference at the U.S. Capitol in Washington, October 4, 2013. REUTERS/Jonathan Ernst

U.S. House Speaker John Boehner (R-OH) (front L) gestures as he addresses reporters during a news conference at the U.S. Capitol in Washington, October 4, 2013.

Credit: Reuters/Jonathan Ernst

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WASHINGTON (Reuters) - U.S. Republican House Speaker John Boehner said on Wednesday he welcomes a plan to extend U.S. highway funding until May 31, 2015, from House Ways and Means Committee Chairman Dave Camp and hopes to see it pass the House of Representatives in the next two weeks.

"I think Chairman Camp and the members of the Ways and Means Committee have a really solid bill to help pay for the shortfall, if you will, in the Highway Trust Fund for the next eight or nine months," Boehner told reporters.

Camp's $10.9 billion plan would be paid for with some fund transfers and revenue-raising measures, including $6.5 billion in new revenue from "pension smoothing," an accounting move that allows companies to delay contributions to employee pension plans. This boosts short-term corporate profits, producing more tax revenue collected by the U.S. Treasury.

(Reporting By David Lawder; Editing by Bill Trott)

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Comments (6)
bbazz wrote:
Creative corporate accounting which delays funding employees’ pensions which are part of their working contract and their renumeration. Is this from the Republican Party of America or the Corporate Party of America? Congress needs to do it’s job – We The People deserve more than this blatant abuse of representation.

Jul 09, 2014 12:26pm EDT  --  Report as abuse
commsense wrote:
what is solid about this plan? this is complete rubbish and corporate accounting trick for those that are low informed. this republicans congress continues to manage to find ways to be worst republican led congress ever. congress needs to deal with the root cause of the problem, and that is less revenue from vehicle and fuel taxes. fuel taxes either have to be raised, or revenue has to be gotten from some place. how about cleaning up the corporate tax welfare.

Jul 09, 2014 12:44pm EDT  --  Report as abuse
SunnyDaySam wrote:
‘Camp’s $10.9 billion plan would be paid for with some fund transfers and revenue-raising measures, including $6.5 billion in new revenue from “pension smoothing,” an accounting move that allows companies to delay contributions to employee pension plans.’

Got that? The Republicans want to pay for this by gouging Average American Workers instead of doing away with tax loopholes for the wealthy and big Corporations. Despicable. Vote Anti-R

Jul 09, 2014 1:37pm EDT  --  Report as abuse
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