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Trump’s Infrastructure Plan Could Involve Federal Gas Tax Hike

Trump’s Infrastructure Plan Could Involve Federal Gas Tax Hike

 


U.S. President Donald Trump is expected to unveil an infrastructure plan on Monday, but it is already ripe for opposition in Congress because the plan offers few details on where the federal funds would come from and because it could mean a rise in the federal gas tax that would not sit well with most Republican lawmakers, although some are said to be open to consider such a tax hike.

The infrastructure plan would entail the use of $200 billion in federal funds to spur infrastructure projects worth $1.5 trillion over a ten-year period.

Democrats insist that the funds should include new revenue, and this could mean that the federal gas tax—at 18.4 cents a gallon since 1993—could be raised.

As early as in May 2017, President Trump said that he would be open to considering a gas tax hike if the money is put toward funding highways.

 

Continued: https://oilprice.com/Latest-Energy-News/World-News/Trumps-Infrastructure-Plan-Could-Involve-Federal-Gas-Tax-Hike.html

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