Once again the speculation is in the air.
White House economic advisor Gary Cohn and Republican lawmakers on Thursday discussed hiking the federal tax on gasoline in order to pay for an infrastructure plan, according to Axios.
It is expected the Trump administration will soon release its plan to generate $1.5 trillion in infrastructure. It should be noted that this is spending that will occur on top currently planned spending.
According to Axios, Rep. Bill Shuster of Pennsylvania pressed Republicans to consider upping the federal gas tax in a meeting with Cohn during a Republican congressional retreat.
-RW
it dosn't matter if they tax, print or borrow. Only spending should be commented on. I agree DC should spend less, but that wont fly in an unlimited democracy.
ReplyDeleteI'll take a gas tax (make clogging up the roads more expensive) over an income tax( make producing value more expensive).
Elaine Chau, Mitch McConnell's wife and head of DOT, said early on that even a raised gas tax would be inadequate because of increased fuel efficiency. Trump's advisors did a white paper on this prior to his election. Watch for "road use" taxes (tracking pay per mile schemes) and more toll roads in the US future.
ReplyDeleteInstead maybe they should look into the missing untold trillions that the U.S. military and Pentagon conveniently "lose" on a regular basis.
And you thought they were going to let you keep that $1.50 a week raise? Fooled you!
ReplyDelete