Recently, our Vice President of Operations, Charles W. Horn, III’s, had a guest post appear on Forbes’s Contributor Kelly Philips Erb’s page. Charles W. Horn, III, is the Vice President of Trust Operations at Commonwealth Trust Company in Wilmington, Delaware. As such, Charlie oversees all of the tax and accounting functions related to the trusts administered by Commonwealth. An Enrolled Agent, Charlie has been practicing in the fiduciary tax realm for over 25 years.
Here’s an excerpt:
If you stop to think about it for a minute, we have an amazing infrastructure to support our driving habits. The Interstate Highway System, authorized by Congress in 1956, provides us with convenient, mostly uninterrupted roadways taking us to all corners of this country. Throughout the system, there are many bridges taking us over waterways, railways, other roadways, etc., not to mention tunnels that take us underneath rivers and through mountains. It’s a system of nearly 48,000 miles built over nearly 60 years at an estimated cost of almost $500 billion in current dollars – impressive no matter how you look at it. And, let’s face it; many of us take advantage of this vast highway system on a regular basis. For some of us, it might be driving I-40 East to vacation at the Grand Canyon; for others, it means taking I-495 West into New York City for work every day.
But, like it or not, we need to pay for this system of roads.
Maintenance of our current roadways is desperately underfunded. One need only look at a few examples to see this. Seven years ago, the I-35W bridge over the Mississippi River in Minneapolis collapsed, killing 13 people. A little over a year ago, the I-5 bridge over the Skagit River in Washington collapsed, thankfully with no deaths. Just this summer, a bridge along I-495 in Delaware had to be closed for months of repairs because it was leaning severely –right around the time that the government announced that the federal highway trust fund was about to run out of money.
To view the guest post in its entirety, please click here: http://www.forbes.com/sites/kellyphillipserb/2014/10/07/guest-post-roadways-and-taxes/