I 
115TH CONGRESS 
1ST SESSION H. R. 1664 
To amend the Internal Revenue Code of 1986 to index the gas and diesel 
tax and rebuild our roads, bridges, and transit systems. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 22, 2017 
Mr. DEFAZIO introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Trans-
portation and Infrastructure, for a period to be subsequently determined 
by the Speaker, in each case for consideration of such provisions as fall 
within the jurisdiction of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to index 
the gas and diesel tax and rebuild our roads, bridges, 
and transit systems. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Investing in America: 
A Penny for Progress Act’’. 
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SEC. 2. DOUBLE INDEXATION OF GASOLINE AND DIESEL 
FUELS TAX. 
(a) IN GENERAL.—Paragraph (2) of section 4081(a) 
of the Internal Revenue Code of 1986 is amended by add-
ing at the end the following new subparagraph: 
‘‘(E) INDEX FOR HIGHWAY CONSTRUCTION 
COST INFLATION AND FUEL EFFICIENCY.— 
‘‘(i) IN GENERAL.—In the case of any 
calendar year after 2017, the 18.3 cents 
rate in subparagraph (A)(i), the 24.3 cents 
rate in subparagraph (A)(iii), and the 19.7 
cents rate in subparagraph (D), shall each 
be increased by an amount equal to— 
‘‘(I) such dollar amount, multi-
plied by 
‘‘(II) the double indexation for 
the calendar year. 
Any increase determined under this sub-
paragraph shall be rounded to the nearest 
tenth of a cent. 
‘‘(ii) EXCEPTION FOR FUEL USED IN 
AVIATION.—The adjustment under clause 
(i) shall not apply with respect to the rate 
of tax under subparagraph (A)(iii) for fuel 
referred to in subparagraph (C). 
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‘‘(iii) SPECIAL RULES TO STABILIZE 
RATES.— 
‘‘(I) If an adjustment of rates 
under clause (i) for a calendar year 
would result in rates in subpara-
graphs (A)(i), (A)(iii), and (D) in ef-
fect for the calendar year greater than 
1.5 cents more than the rates in effect 
under such subparagraphs for the pre-
ceding calendar year— 
‘‘(aa) the rates in subpara-
graphs (A)(i), (A)(iii), and (D) 
for the calendar year shall be the 
rates in effect under such sub-
paragraphs for the preceding cal-
endar year plus 1.5 cents, 
‘‘(bb) any adjustment of 
rates that would have occurred 
under clause (i) if item (aa) were 
not in effect shall be applied 
under that clause— 
‘‘(AA) in the succeeding 
calendar year or years after 
the rate is established under 
clause (i) for that year, and 
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‘‘(BB) until the cumu-
lative adjustment of rates 
equals the adjustment that 
would have applied under 
clause (i) if item (aa) were 
not in effect, and 
‘‘(cc) an adjustment of rates 
under item (bb) remains subject 
to item (aa). 
‘‘(II) If an adjustment of rates 
under clause (i) for a calendar year 
would result in rates in subpara-
graphs (A)(i), (A)(iii), and (D) in ef-
fect for the calendar year less than 
the rates in effect under such sub-
paragraphs for the preceding calendar 
year— 
‘‘(aa) no adjustment of such 
rates shall be made for the cal-
endar year, and 
‘‘(bb) the rates in subpara-
graphs (A)(i), (A)(iii), and (D) 
for the calendar year shall be the 
rates in effect under such sub-
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(B) the sum of the amount authorized in 
section 5338(a)(1) of title 49, United States 
Code, the amounts authorized in section 
1101(a) of the FAST Act (Public Law 114–94; 
129 Stat. 1322), the amounts authorized in sec-
tion 4001(a) of the FAST Act (Public Law 
114–94; 129 Stat. 1497), and the amounts au-
thorized in section 31104(a) and 31110(a) of 
title 49, United States Code, for that fiscal 
year. 
(4) FACE
AMOUNT
FORMULA
FOR
FISCAL 
YEARS
2021
THROUGH
2013.—Bonds issued under 
subsection (a) for each of fiscal years 2021 through 
2030 shall have a face amount that equals, for that 
fiscal year— 
(A) the Federal share (as defined in sec-
tion 503(b)(8)(C)(v) of title 23, United States 
Code, and section 308(e)(3)(E) of title 49, 
United States Code) of the most recent esti-
mates required under section 503(b)(8)(C)(iv) 
of title 23, United States Code, and section 
308(e)(3)(D) of title 49, United States Code; 
minus 
(B) the expected revenue deposited into the 
Highway Trust Fund for the corresponding fis-
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