Through a single piece of legislation, Sen. Rand Paul is hoping to cut a corporate tax and get more revenue for transportation projects.
Here's how: When American companies make money overseas and put it in foreign banks, they have to pay a tax to bring the money back to the U.S. Paul is sponsoring legislation that lowers the tax companies pay to transfer foreign profits to America from 35 percent to 5 percent. Many of those companies keep that money overseas instead of paying the 35-percent tax.
The new tax revenue generated under Paul's proposal would be put into a transportation fund, which could benefit projects including the Ohio River Bridges and the Brent Spence Bridge in Northern Kentucky.
A lot of money is sitting overseas, and a lower tax rate would entice companies to bring it home, Paul spokesman Dan Bayens said.
Paul is doing more than just "considering" running for president as he's states, the Kentucky Republican is clearing a path to seek the 2016 Republican presidential nomination with a series of upcoming early primary state visits, a beefed up political operation and a plan to raise his profile.
His first major appearance is Friday night when he's scheduled to be the featured guest at the Iowa Republican Party's annual spring fundraiser. That's considered a plum speaking gig in the state expected to host the leadoff caucuses.
Paul's road is expected to be far from easy, given other big names in the prospective field and the national GOP's wide divide. But he enjoys tea party backing and access to his father Ron Paul's past presidential campaign networks.
Rand Paul heads to New Hampshire later this month and to South Carolina in June, two other early primary states.
Kentucky Senator Rand Paul is lending his name to a conservative gun rights group that's targeting fellow Republicans.
The group, the National Association for Gun Rights, is running ads against two Congressmen in Virginia, including House Minority leader Eric Cantor, saying they gave in too easily to President Obama's gun control measures. They also say the National Rifle Association is too willing to compromise on gun rights.