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Monday, July 28, 2014

Congress and pensions: Highway to hell | The Economist

Congress and pensions: Highway to hell | The Economist
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SO THE US Congress has agreed on a way of funding the highway trust fund, the scheme that fixes the potholes and the bridges (and should be funded by a tax on petrol, but Congress refuses to increase that tax). The "money" is to come from a technique known as pension smoothing companies will have longer to repair their pension deficits. Since companies' pensions contributions are tax-deductible, lower contributions means more tax revenue for the government; this will fund the highways. 

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