FOR IMMEDIATE RELEASE, Contact: (202) 225-7601
June 14, 2000
No. OV-20
Congressman Amo Houghton (R-NY), Chairman, Subcommittee on Oversight of the Committee on Ways and Means, today announced that the Subcommittee will hold a hearing on the tax law treatment of transportation infrastructure. The hearing will take place on Wednesday, June 21, 2000, in the main Committee hearing room, 1100 Longworth House Office Building, beginning at 3:00 p.m.
Oral testimony at this hearing will be from invited witnesses only. Witnesses will include representatives from organizations with expertise in the various modes of transportation. However, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing.
BACKGROUND:
The transportation sector of the economy includes trains, motor vehicles, aircraft, and shipping. These various modes of transportation play a critical role in the operation of our economy. The demands on transportation industries have grown over time in step with the growth in the population and with the growth in the economy.
One feature shared by all modes of transportation is that they are capital intensive. For example, the railroad industry must build and maintain the tracks upon which its trains travel as well as the expensive rolling stock required to operate a rail system. The motor vehicle industry is continually challenged to produce more fuel efficient and safer vehicles, while governmental units are called upon to expand and improve our highway system.
The tax law historically has recognized the unique character of the transportation industry and has been tailored to address its special circumstances. For example, the tax law imposes an excise tax on motor fuel and aviation fuel, the proceeds of which fund improvements in highways and airport facilities respectively. Likewise the tax law provides tax-exempt bonding authority to high-speed intercity rail facilities, as well as special rules for the treatment of railroad repair expenditures and for the depreciation of railroad rolling stock.
In announcing the hearing, Chairman Houghton stated: "Despite the popular attention given to the new "dot-com" industries, the transportation industry remains the backbone of an expanding economy. Without the efficient movement of people and products, the continued growth in our economy could be jeopardized. I want to explore how the tax law affects the national transportation infrastructure and the transportation industries' ability to serve the public."
FOCUS OF THE HEARING:
The hearing will focus on how the tax law treats the transportation industry and how it can promote better transportation infrastructure for the various modes of transport, such as railroad, motor vehicle, aircraft, etc.
DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:
Any person or organization wishing to submit a written statement for the printed record of the hearing should submit six (6) single-spaced copies of their statement, along with an IBM compatible 3.5-inch diskette in WordPerfect or MS Word format, with their name, address, and hearing date noted on a label, by the close of business, Wednesday, July 5, 2000, to A.L. Singleton, Chief of Staff, Committee on Ways and Means, U.S. House of Representatives, 1102 Longworth House Office Building, Washington, D.C. 20515. If those filing written statements wish to have their statements distributed to the press and interested public at the hearing, they may deliver 200 additional copies for this purpose to the Subcommittee on Oversight office, room 1136 Longworth House Office Building, by close of business the day before the hearing.
FORMATTING REQUIREMENTS:
Each statement presented for printing to the Committee by a witness, any written statement or exhibit submitted for the printed record or any written comments in response to a request for written comments must conform to the guidelines listed below. Any statement or exhibit not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.
1. All statements and any accompanying exhibits for printing must be submitted on an IBM compatible 3.5-inch diskette in WordPerfect or MS Word format, typed in single space and may not exceed a total of 10 pages including attachments. Witnesses are advised that the Committee will rely on electronic submissions for printing the official hearing record.
2. Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.
3. A witness appearing at a public hearing, or submitting a statement for the record of a public hearing, or submitting written comments in response to a published request for comments by the Committee, must include on his statement or submission a list of all clients, persons, or organizations on whose behalf the witness appears.
4. A supplemental sheet must accompany each statement listing the name, company, address, telephone and fax numbers where the witness or the designated representative may be reached. This supplemental sheet will not be included in the printed record.
The above restrictions and limitations apply only to material being submitted for printing. Statements and exhibits or supplementary material submitted solely for distribution to the Members, the press, and the public during the course of a public hearing may be submitted in other forms.
The
Committee seeks to make its facilities accessible to persons with
disabilities. If you are in need of special accommodations, please
call 202-225-1721 or 202-226-3411 TTD/TTY in advance of the event
(four business days notice is requested). Questions with regard to
special accommodation needs in general (including availability of
Committee materials in alternative formats) may be directed to the
Committee as noted above.