Trump says he's willing to consider raising gas tax

"It's something that I would certainly consider", Trump said Monday in a wide-ranging interview with Bloomberg News in the Oval Office, "if we earmarked money toward the highways".

Fuel taxes have not been raised since 1993, as vehicles have become increasingly fuel efficient and construction costs have climbed rapidly.

The president indicated that the additional money would be directed toward highway construction and fix.

Former President Barack Obama talked a year ago of raising the fuel tax by 24 cents a gallon, drawing instant ridicule and rejection from Republicans who controlled Congress.They've been largely silent about President Trump's remarks.

The U.S. trucking industry - which shoulders roughly half the cost of the fuel taxes - would welcome an increase if it's dedicated to fixing infrastructure.

Trump's plan to ease the tax burden on corporations should come as no surprise to anyone, since it was one of his major campaign promises.

The analysis said states are in for "a wild ride" regardless of whether or not the Trump plan is enacted because taxpayers may alter their behavior in anticipation of the legislation. The duty rises to 24.4 cents per gallon for diesel.

White House Press Secretary Sean Spicer told reporters in mid-April that Trump continues to be audited, noting that his recently-filed 2016 returns were under IRS' scrutiny as well.

Trump, in an interview with Bloomberg News, said he was open to raising the tax, though he was not committed to pursuing it.

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Republicans have historically been opposed to raising the gas tax.

On the Trump administration's failure to repeal Obamacare: "The expectation that it was going to be done in 18 days was perhaps a bit aggressive but it looks like we're very close to getting changes to healthcare done and we're going to move forward with taxes".

A committee aide said later that Mr. Brady's answer reflected an assumption that infrastructure tax issues will be addressed separately by other House committees.

The conservative group Club for Growth immediately urged Trump to forget it. That should create greater corporate profits, more jobs and more income and payroll taxes, which would help bring down deficits and stabilize Social Security and Medicare.

In recent weeks, Trump had floated the idea of linking his rebuilding plan with other legislative priorities to attract more support for his tax overhaul or healthcare proposal, because he said infrastructure is "so popular" among Democrats.

"We're not at a point where we're ready to roll out details of that yet", Spicer said.

The Reagan administration spent a year drawing up a tax-reform plan in 1984, and then two of the most skillful Washington operatives, James Baker and Richard Darman, spent months consulting with lawmakers and affected interests before unveiling the specific plan.

Trump's infrastructure announcement appears a bit more deliberate.

(Copyright © 2015. All Rights Reserved.)
 
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