Trump reportedly endorses 25-cent hike in gas tax
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Posted On: 02/14/2018 6:48:42 PM
Trump reportedly endorses 25-cent hike in gas tax to pay for infrastructure plan.
Mixed thoughts on this. Seems as to a percent of income, this would really hurt the middle class much worse that the upper class? Article agrees with me.
Thoughts or comments?
https://www.cnbc.com/2018/02/14/trump-reporte...s-tax.html
President Donald Trump is reportedly open to raising the federal tax on gasoline and diesel by 25 cents to pay for the White House's infrastructure plan.
The current taxes, which have not been raised in nearly 25 years, are 18.4 cents per gallon for gasoline and 24.4 cents for diesel.
At least some Republican lawmakers and many conservative groups are opposed to hiking the federal fuel levy.
President Donald Trump is calling for a 25-cent hike to the federal gas tax in order to pay for the White House infrastructure plan, according to multiple reports.
The effort could face opposition from Republicans, some of whom are reportedly worried about increasing the middle class's tax burden so soon after cutting taxes, their only big legislative achievement under Trump.
The current federal levy is 18.4 cents a gallon on retail gasoline and 24.4 cents a gallon for diesel. The increase floated by the president would presumably put the gasoline tax at 43.4 cents and diesel tax at just under 50 cents.
Trump endorsed raising the gasoline tax by a quarter at a White House meeting with members of his administration and Congress, two sources told Axios. Sen. Tom Carper, a Democrat from Delaware, told CNN Trump is open to a 25-cent hike for both the diesel and gasoline tax.
Mixed thoughts on this. Seems as to a percent of income, this would really hurt the middle class much worse that the upper class? Article agrees with me.
Thoughts or comments?
https://www.cnbc.com/2018/02/14/trump-reporte...s-tax.html
President Donald Trump is reportedly open to raising the federal tax on gasoline and diesel by 25 cents to pay for the White House's infrastructure plan.
The current taxes, which have not been raised in nearly 25 years, are 18.4 cents per gallon for gasoline and 24.4 cents for diesel.
At least some Republican lawmakers and many conservative groups are opposed to hiking the federal fuel levy.
President Donald Trump is calling for a 25-cent hike to the federal gas tax in order to pay for the White House infrastructure plan, according to multiple reports.
The effort could face opposition from Republicans, some of whom are reportedly worried about increasing the middle class's tax burden so soon after cutting taxes, their only big legislative achievement under Trump.
The current federal levy is 18.4 cents a gallon on retail gasoline and 24.4 cents a gallon for diesel. The increase floated by the president would presumably put the gasoline tax at 43.4 cents and diesel tax at just under 50 cents.
Trump endorsed raising the gasoline tax by a quarter at a White House meeting with members of his administration and Congress, two sources told Axios. Sen. Tom Carper, a Democrat from Delaware, told CNN Trump is open to a 25-cent hike for both the diesel and gasoline tax.
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