Trump says he's willing to consider raising gas tax

The federal government now finances its trust fund with an 18.4 cents per gallon tax on gasoline and a 24.4 cents per gallon tax on diesel fuel, neither of which are adjusted for inflation so the revenues raised have effectively fallen over time.

The government on Friday reported the weakest pace of economic growth in three years in the first quarter.

Wisconsin has faced similar challenges with long-term transportation funding. For example, all nonpartisan groups say Trump's tax plan will explode the national debt, but they differ on whether it is by $2 trillion or $7 trillion.

"Everything is a starting point", Trump recently argued when discussing his proposed tax reform. "We are all committed to get this done". "That is certainly a hard thing to do, " Shuster said at the time. "So we're going to look at that". Shuster's office didn't immediately comment on Trump's statement Monday.


Trump said the tax cuts he's seeking, along with renegotiated trade agreements, would serve as a badly needed stimulus to the economy.

No law now forces presidential candidates to release their tax information, but it had become customary over the last 40 years for candidates to do so.

Now we have that leadership from the top and President Trump's tax reform proposal. That's been a problem area because fuel taxes have been unchanged since 1993 and created financial challenges for preserving the Highway Trust Fund. "Would that be fair?" the reporter asked Trump. The bill has been introduced in New York, Massachusetts, California, Rhode Island, New Jersey and Virginia. "Let's see the proposal".

For individual taxpayers, the administration plan is geared toward the highest earners.


But U.S. Transportation Secretary Elaine Chao said last week that the administration hopes to have a package to Congress "probably by summer or this fall".

Bartiromo pressed for a timeline for passing a tax bill Monday at the Milken Institute Global Conference in Beverly Hills, but Mnuchin demured.

Trump administration announced Wednesday that it plans to cut corporate tax rate to 15 percent from 35 percent, and impose a one-time unspecified tax on American firms overseas.

Such a plan should be engineered in a way that encourages business growth and hiring, that rewards smart investment and long-term savings, and that - most importantly - provides the federal government the money to support a disciplined approach to pay for the country's needs, such as infrastructure, defense and the social safety net. She previously has touted public-private partnerships and repatriation, or taxes on returned profits from overseas, as well as streamlining regulations and permitting to accelerate projects. The White House says it will fill in the important details later, in the meantime pushing dubious and duplicitous claims.



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