Thursday, April 4, 2019

Trump Administration Considering Gasoline Tax Hike!

The Trump administration and congressional Democrats have found something they agree on — and it could mean higher taxes on gasoline and diesel fuel, reports McClatchy DC.

Last week, President Trump’s energy secretary, Elaine Chao, told senators that a gas tax hike was on the table when asked whether the White House would support such a move.


And this week, according to McClatchy, Democrats are indicating that they too are ready to consider a tax increase.

The U.S. Chamber of Commerce has urged increasing the tax by a whopping nickel per year over each of the next five years.

A plan pushed by Rep. Sam Graves, a Missouri Republican and top GOP member of the transportation committee, offered another idea: Paying a tax based on how many miles one’s vehicle traveled.

Rep. Peter DeFazio, chairman of the House Transportation and Infrastructure Committee, has talked about tying increases in the gas tax to inflation. Under his plan the tax could go up no more than 1.5 cents per gallon per year.

The current federal tax is 18.4 cents a gallon for gasoline and 24.4 cents a gallon for diesel fuel.

Grover Norquist, president of Americans for Tax Reform, is opposing any gasoline tax hike.

Senate Majority Leader Mitch McConnell, and husband of Secretary Chao, has long been opposed to higher gasoline taxes.

Chao, according to McClatchy, would give no timetable for increasing the fuel taxes, but said “I think it’s an issue we all need to discuss.”

-RW




2 comments:

  1. The implacable ravenous beast continues to grow, with no end in sight short of total economic collapse.

    ReplyDelete
  2. Sounds great, let’s hit trucking companies with another 25 cents a gallon. I’m sure that won’t force an increase on consumer prices. Not to mention, in my industry, we will charge more to the oil companies to haul their freight, which would drive up oil...
    This would cost my company about $110- 130,000 a year.
    Do these fools think we can/will just eat that?

    ReplyDelete