Gary Cohn floats gas tax hike to pay for infrastructure

Gary Cohn floats gas tax hike to pay for infrastructure

[Ed. – Ugh.  Once you institute these sales taxes, they never go away — or even back down again.  Not a fan.]

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. …

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.

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

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