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: 62

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 posted a video

"EVERYONE'S BEEN SHOT UP HERE": Arsonists Set Wildfire In Idaho, Open Fire On Firefighters, Police

- Shocking news just broke that multiple firefighters and officers were shot in an ambush at the Canfield Mountain Natural Area in Coeur d'Alene, Idaho.Acco...
7 hours ago
Doc Vega posted a blog post

Well Known Wilderness Photographer Disappears in the Cascades-Guess Why?

 In August of 2023 another aficionado of the great outdoors went missing. The chilling revelations…See More
14 hours ago
Doc Vega posted a blog post

The Draconian Show

Sometimes I talk to my invisible friend, IkeHe comes from another dimension when magnetic fields…See More
Friday
tjdavis posted a blog post
Thursday
Doc Vega posted a blog post
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega posted blog posts
Jun 23
Doc Vega favorited tjdavis's photo
Jun 22
Doc Vega commented on tjdavis's photo
Thumbnail

Game Night

"Ha! Good one!"
Jun 22
Doc Vega commented on FREEDOMROX's blog post MRNA VACCINES: Question
"Listen man I know where you're at but back in October of 2023 thru December of 2023 for months…"
Jun 22
tjdavis posted a video

Architecton | Official Trailer HD | A24

SUBSCRIBE: http://bit.ly/A24subscribeWritten and directed by Victor Kossakovsky and starring Michele De Lucchi. ARCHITECTON – Coming Soon RELEASE DATE: Comin...
Jun 22
tjdavis posted photos
Jun 22
tjdavis posted a blog post
Jun 21
Burbia posted a video

Europe Will Not Survive

The hubris.All things Archaix at www.archaix.com
Jun 21
FREEDOMROX posted a video
Jun 21
Burbia commented on tjdavis's blog post Track AIPAC
Jun 20
rlionhearted_3 commented on Doc Vega's blog post Latest Details on Missile Exchanges Between Iran and Israel
"May get really ugly over there?"
Jun 20
Doc Vega posted a blog post

Latest Details on Missile Exchanges Between Iran and Israel

Latest information about the air attacks between Israel and Iran as the US moves another carrier…See More
Jun 19
tjdavis favorited Less Prone's video
Jun 19
tjdavis posted a blog post
Jun 19

© 2025   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