Published On: Wed, Feb 14th, 2018

Axios: Trump Supports Gas Tax Hike to Fund Infrastructure

President Donald Trump reportedly said he supports a 25-cent hike in the gas tax during a White House meeting Wednesday.

Two sources told Axios that Trump said the tax increase could be a way to pay for upgrades to the nation’s infrastructure, although he is open to using other methods to fund the projects.

In a statement to Axios, a White House official referenced comments made by Transportation Secretary Elaine Chao Tuesday, in which she said raising the gas tax — which was last increased in 1993 — is a possibility.

“As Sec. Chao mentioned yesterday, the president is focused on his four priorities: spurring $ 1.5 trillion of infrastructure investment, cutting down the burdensome permitting process from 10 years to two, providing funding for rural infrastructure, and investing in workforce development,” the official said. “He has said everything is on the table in order to achieve those goals.

“The gas tax has its pros and cons, and that’s why the president is leading a thoughtful discussion on the right way to solve our nation’s infrastructure problems.”

A separate report this week, meanwhile, claimed the Republican Party is mulling the idea of raising the gas tax. The rate currently sits at 18.4 cents per gallon for unleaded and 24.4 cents per gallon for diesel.

Increasing the tax by 25 cents a gallon, according to the report, could result in more than $ 375 billion in additional tax revenue over the next 10 years.

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Newsmax – Politics

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Axios: Trump Supports Gas Tax Hike to Fund Infrastructure