Draft Tax Reform Would Hike Inland Waterways User Fee, Says Industry
The draft tax reform legislation released on Feb. 26 by House Ways and Means Committee Chairman Dave Camp, R-Mich., recommends a 6 cents per gallon increase in Inland Waterways Trust Fund fees for inland waterways towboat operators, said Waterways Council (WCI) President Michael Toohey in a press release praising the provision. The Tax Reform Act of 2014 (here) incorporates a user fee hike provision from the WAVE4 Act, HR-1149 (here), introduced in 2013. The tax reform legislation would boost the user fee 6 cents from its current 20 cents per-gallon level.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
“WCI, along with its carrier, shipper, agriculture, labor, conservation and port community members, is deeply appreciative for the leadership shown by Chairman Camp to recommend a user fee increase that will allow more money to be collected into the Inland Waterways Trust Fund to modernize our critically important inland waterways system,” Toohey said. “As our nation looks to increase exports, create jobs, and facilitate American competitiveness, transportation infrastructure requires investment. An increased user fee, paid for and supported by the inland waterways industry, will serve to raise the level of investment in our inland waterways transportation system.”