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United States · Bill · HR

H.R. 1670 (115th)

Infrastructure 2.0 Act

referredUnited States· United States Congress· EN

Introduced

22 March 2017

Last action

23 March 2017 · Referred

Status

Referred to the Subcommittee on Water Resources and Environment.

Sponsors

John Delaney, Ted Yoho, Pete Aguilar, Rep. Bera, Ami [D-CA-6], Cheri Bustos, Tulsi Gabbard, Colleen Hanabusa, Robin Kelly, Ann Kuster, JAMES LANGEVIN, Sean Maloney, Betty McCollum, David McKinley, Seth Moulton, Donald Norcross, Ed Perlmutter, Jared Polis, Rep. Quigley, Mike [D-IL-5], C. Ruppersberger, Kyrsten Sinema, Darren Soto, Derek Kilmer

Subjects

Transport, Taxation

Source updated

11 August 2025

Transport · Taxation

Official sourceDownload fileView documentsShare

Summary

Infrastructure 2.0 Act This bill amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profits subject to taxation in the last year that ends before the enactment of this bill; (2) reduce the tax rate on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow corporations to pay the tax in installments. The bill also: establishes and provides appropriations for a fund to assist various public and private entities in investing in public infrastructure projects, appropriates revenues from this bill to the Highway Trust Fund (HTF), establishes a commission to make recommendations to achieve long-term solvency of the HTF and requires Congress to consider the proposed legislation using expedited procedures, and directs the Department of Transportation to establish a regional infrastructure accelerator pilot program to assist public entities in developing infrastructure projects. The bill establishes a deadline of 18 months after the enactment of this bill for the enactment of legislation to reform the international tax system by eliminating the incentive to hold earnings in low-tax foreign jurisdictions. If the legislation is not enacted by the deadline, a specified reform proposal takes effect, which includes provisions relating to subpart F income and insurance income, the taxation of repatriated offshore corporate earnings, gains and losses from the sale or exchange of stock in controlled foreign corporations, limitations on the foreign tax credit, and the tax treatment of previously deferred foreign income.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 22 March 2017

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 22 March 2017

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  3. 22 March 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 22 March 2017

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 23 March 2017

    Referred

    Referred to the Subcommittee on Aviation.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Related records

Sources

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