Gary Cohn Floats Idea of Gas Tax Hike for Infrastructure

Gary Cohn Floats Idea of Gas Tax Hike for Infrastructure

Erik Wasson
Mark Niquette
October 25, 2017, 8:19 PM GMT+2
  • White House economic adviser met with Problem Solvers Caucus
  • Fuel tax hasn’t been raised since 1993 because of opposition

President Donald Trump’s chief economic adviser raised the possibility of increasing the federal gasoline tax next year to help pay for the administration’s $1 trillion infrastructure plan, U.S. Representative Tom Reed said.

National Economic Council Director Gary Cohn brought up the fuel tax as a way to help fund promised upgrades to U.S. roads, bridges and other public works during a meeting with a bipartisan group of lawmakers dubbed the Problem Solvers Caucus on Wednesday, said Reed, a New York Republican who is co-chairman of the caucus.

There have been proposals over the years to raise the gas tax, which hasn’t been increased since 1993, but they have faced stiff opposition from congressional Republicans and others loath to raise taxes.

As recently as May 1, after Trump floated the idea in an interview with Bloomberg News, House Ways and Means Chairman Kevin Brady seemed cold to the idea. Asked then if he’d rule it out, he said, “In my view, yes, but we’re going to have that discussion.”

On Wednesday, Brady was no more enthusiastic. “Hm. I’m going to stay focused on tax reform right now,” he said.

Revenue from the federal per-gallon taxes of 18.4 cents on gasoline and 24.4 cents on diesel has declined as inflation robbed them of their purchasing power and the average fuel economy of a passenger vehicle increased by 12 percent, according to the U.S. Department of Transportation. Business and transportation groups have called for increasing the federal gas tax to help sustain the federal Highway Trust Fund that provides money to states for projects.

Representative Mike Simpson, a Republican from Idaho, said he would support an increase.

“It’s a user fee,” Simpson said. “We’ve got to convince people that the money goes to roads and bridges and not all the other bull.”

In the Bloomberg News interview, Trump said he “would certainly consider” raising the U.S. gas tax to fund the infrastructure improvements he promised during the campaign. He described the idea as supported by truckers “if we earmarked money toward the highways.’’ But the White House quickly said the president wasn’t endorsing the idea.

The White House didn’t immediately return a message seeking comment on Cohn’s remarks. The administration has said it plans to pursue an infrastructure package after ongoing efforts to overhaul the U.S. tax code are resolved.

Views: 60

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Burbia commented on Burbia's group The Comment Section is Closed
"So far, there are 14 comments here for the video about Iran's influence on Generation Z and…"
14 hours ago
Doc Vega posted blog posts
14 hours ago
tjdavis posted videos
yesterday
tjdavis posted photos
yesterday
Larry Harmen posted blog posts
yesterday
Larry Harmen posted videos
yesterday
Doc Vega posted blog posts
yesterday
cheeki kea commented on Less Prone's photo
Thumbnail

Rebuilding Khazaria

"Perhaps Russia and Ukraine should Rebuild the Tartarian Empire. Then game over. "
yesterday
cheeki kea commented on FREEDOMROX's blog post NEVER FORGET! WHO and UN charged with GENOCIDE in 2009
"This is Why the outlier countries Must Stand Up And Fight Them Off on all fronts at all times. For…"
yesterday
cheeki kea posted a blog post

Dr. Aseem Malhotra's Explosive Court Testimony on COVID "Vaccines"(UPDATED)

 Doctor Malhotra drops arsenal of truth bombs on Helsinki. A spectacular display. Here are few snip…See More
yesterday
Less Prone favorited Doc Vega's blog post They Want to Murder Trump!
Tuesday
Less Prone posted a photo
Tuesday
rlionhearted_3 posted a photo
Tuesday
Doc Vega posted blog posts
Monday
Doc Vega commented on tjdavis's photo
Thumbnail

reminders

"Wow how ironic! "
Sunday
Less Prone commented on KLC's group MUSICWARS
"Walk like a Joe Biden"
Sunday
Less Prone favorited Sandy's photo
Sunday
Less Prone favorited cheeki kea's photo
Sunday
Less Prone replied to MAC's discussion GAIN OF FUNCTION CRIMINALS ARE SQUIRMING
Sunday
Sandy posted photos
Sunday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted