This year offers the prospect of American air travel liberation, and even a free market revolution, particularly with the new Republican Congress. That is because on September 30, 2015, Congressional authorization for federal aviation programs will expire. So Congress must pass a new deal for aviation in America, to keep the nation’s air travel system functioning.
President Obama has proposed in his new budget to immediately seize 14% of the accumulated overseas profits of American companies. And his budget proposes to impose a new 19% tax on any future overseas earnings of those American companies. Obama proposes to use that money to finance a new national infrastructure program for roads and bridges.