On 16 April 2015, Senators Rand Paul and Barbara Boxer formally introduced their proposed Invest in Transportation Act of 2015 in the U.S. Senate. The legislation provides for a reduced tax rate on repatriated foreign earnings, with the resulting tax revenue transferred to the Highway Trust Fund. The reduced tax rate would be 6.5%, and would only apply to foreign earnings repatriated that exceed the average amount of repatriated earnings of a company in previous years. Only foreign income earned in 2015 or prior years would qualify. Companies would have up to five years to complete the transfer, but must...