Questions Arise on Infrastructure Funding as Tax Revamp Progresses

Repatriated revenue from an international tax overhaul is slated to pay for tax cuts, not infrastructure, leaving questions about how the White House will fund its infrastructure proposal, a pair of senior Republican lawmakers told Bloomberg Government.

Revenue from repatriating taxes on overseas corporate earnings was floated as a possible way to fund a $200 billion direct federal investment in infrastructure, as part of President Donald Trump’s promised $1 trillion infrastructure package.

Rep. Mario Diaz-Balart (R-Fla.), a senior member of the House Budget and Appropriations committees, had hoped income from repatriation could help pay for an infrastructure package, he told ...