Senate, House Repubs disagree on gas tax; McConnell nixes repatriation; Ex-Im bank still in play

Highway Bill Vexes Washington

Sen. McConnell rules out gas hike, downplays repatriation, for highway trust fund.

Politico: "'We're not going to raise the gas tax,' McConnell said ... McConnell (R-Ky.) also said he was 'skeptical' about the prospect of using a bipartisan plan from Sens. Chuck Schumer (D-N.Y.) and Rob Portman (R-Ohio) to overhaul some corporate taxes as a way to pay for [the trust fund.] ... That leaves Senate Finance Chairman Orrin Hatch (R-Utah) to search for spending cuts or unused money elsewhere..."

http://www.politico.com/story/2015/07/senate-mitch-mcconnell-no-gas-tax-highway-construction-bill-119857.html



Yet House Republican floats gas tax hike.

The Hill: "The measure, sponsored by Rep. Tom Rice (R-S.C.), would offset the gas tax increase with a $133 income tax credit that would be offered to drivers to minimize the impact of higher prices at the pump."

http://thehill.com/policy/transportation/247311-gop-bill-would-hike-gas-tax-by-10-cents



And Sen. Schumer pushes repatriation.

The Hill: "...Schumer suggested that he could get behind an extension until the end of the year that would allow lawmakers to fill in the gaps in the tax framework he crafted with Portman ... he also acknowledged he and Portman had a ways to go to flesh out all the details of a framework that faces roadblocks this year."

http://thehill.com/policy/finance/247284-highway-dilemma-ignites-new-tax-fight



Conservatives look to prevent Ex-Im Bank renewal from being attached to highway bill.

The Hill: "They said they would use every procedural tactic available to make sure the bank can't continue to operate, including resisting efforts to merge Ex-Im's reauthorization with legislation funding highway projects ... Boehner has said that bank opponents would be allowed a vote on an amendment stripping the Ex-Im language from the highway bill. But privately, Ex-Im critics concede that they likely do not have the support to win that vote."

http://thehill.com/policy/finance/banking-financial-institutions/247321-conservatives-prepare-for-showdown-on-ex-im