JCT Describes Infrastructure Tax Provisions

U.S. Joint Committee on Taxation

The Joint Committee on Taxation, in a May 17 report prepared in advance of a House Ways and Means Committee hearing, summarized tax law concerning infrastructure.

The Joint Committee on Taxation, in a May 17 report prepared in advance of a House Ways and Means Committee hearing, summarized tax law concerning infrastructure.

The Joint Committee on Taxation, in a May 17 report (JCX-25-21) prepared in advance of a House Ways and Means Committee hearing, summarized tax law concerning infrastructure. The JCT summarized infrastructure trust funds and their excise taxes, including the Highway Trust Fund, the Airport and Airway Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund. The report also summarized infrastructure-related tax incentives, such as the new markets tax credit, Opportunity Zones, the vehicle-miles-traveled tax, the freight transport excise tax, the low-income housing tax credit, and the historic structure rehabilitation tax credit. The report concluded with summaries of energy-related tax expenditures, including the renewable electricity production credit, energy property investment tax credits, alternative fuel vehicle credits, and the capital gains treatment of fossil fuels.

The Joint Committee on Taxation, in a May 17 report (JCX-25-21) prepared in advance of a House Ways and Means Committee hearing, summarized tax law concerning infrastructure. The JCT summarized infrastructure trust funds and their excise taxes, including the Highway Trust Fund, the Airport and Airway Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund. The report also summarized infrastructure-related tax incentives, such as the new markets tax credit, Opportunity Zones, the vehicle-miles-traveled tax, the freight transport excise tax, the low-income housing tax credit, and the historic structure rehabilitation tax credit. The report concluded with summaries of energy-related tax expenditures, including the renewable electricity production credit, energy property investment tax credits, alternative fuel vehicle credits, and the capital gains treatment of fossil fuels.