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Article snippet: The GOP tax plan that is speeding through Congress could deliver a much-needed win for the White House, but it could also kill one of Trump's other top priorities: legislation to rebuild U.S. infrastructure. Not only would the tax overhaul use up one of the potential funding options for repairing infrastructure, it would also eliminate a financing tool that states have used to back a wide range of infrastructure projects. That could spell doom for Trump’s infrastructure overhaul, which was always going to be a tough sell for fiscal conservatives on Capitol Hill. “Preemptively removing [private activity bonds] as a financing tool for infrastructure projects would undermine Congress's stated goal of leveraging a $1 trillion investment in our nation's infrastructure,” said Richard A. White, acting president and CEO of the American Public Transportation Association. “Instead, this provision would have a chilling effect on private sector investments in infrastructure projects.” The tax package that passed the House last week would eliminate the deduction on tax-exempt private activity bonds, which are used by public-private partnerships to help build roads, highways, housing, hospitals, airports and other critical projects. Eliminating the program would save nearly $40 billion over a decade, according to a GOP summary sheet. But transportation advocates worry ending the deduction will directly undercut Trump’s effort to revitalize the nation’s infrastructure. The... Link to the full article to read more