WASHINGTON – Sen. Mike Lee (R-UT) introduced today his plan to pay less and build more infrastructure. The bill, titled the Transportation Empowerment Act, would cut taxes and save federal dollars all while allowing more infrastructure to be built.
The proposal focuses federal infrastructure spending on the Interstate Highway System and cuts the federal gas tax from 18.3 cents to 7 cents a gallon and the federal diesel tax from 24.3 cents to 8.3 cents a gallon. It also covers the Highway Trust Fund’s outstanding obligations and replenishes the depleted fund by transferring $120.2 billion in unspent COVID-19 funds.
Of the bill, Sen. Lee said, “The Federal Government can easily meet its infrastructure obligations and we don’t have to spend trillions of dollars to do it. By focusing on what is truly federal, we can cut taxes, pay less, and build more. This bill does just that.”
Sen. Lee is joined by Sens. Ted Cruz (R-TX) and Cynthia Lummis (R-WY) as cosponsors.
A one-pager for the bill can be found here. The full text of the bill can be read here.