Trump is open to more-than doubling the gas tax to pay for his giant infrastructure plan

  • President Donald Trump reportedly told lawmakers in a White House meeting that he is open to increasing the gas tax to pay for his giant infrastructure plan.
  • The federal gas tax has not been increased since 1993, when it was bumped to 18.4 cents per gallon of unleaded fuel.
  • A White House official declined to discuss what came out of a closed-door meeting, but said "the gas tax has its pros and cons."

President Donald told lawmakers he would be open to an increase in the gas tax in order to help pay for his infrastructure plan, a report said.

According to Jonathan Swan at Axios, Trump said he would consider raising the gas tax 25 cents per gallon to help pay for his plan to spend $200 billion of federal funding on infrastructure over the next 10 years.

The federal gas tax has not been increased since 1993 and currently sits at 18.4 cents per gallon for unleaded and 24.4 cents for diesel.

RELATED: President Trump's January 2018 approval ratings by state

48 PHOTOS
President Trump's January 2018 approval ratings by state
See Gallery
President Trump's January 2018 approval ratings by state

Alabama - 63 percent

Source: Morning Consult

Alaska - 48 percent

Source: Morning Consult

Arkansas - 53 percent

Source: Morning Consult

Arizona - 53 percent

Source: Morning Consult

Connecticut - 39 percent

Source: Morning Consult

California - 36 percent

Source: Morning Consult

Colorado - 41 percent

Source: Morning Consult

Delaware - 41 percent

Source: Morning Consult

Delaware - 50 percent

Source: Morning Consult

Delaware - 41 percent

Source: Morning Consult

Hawaii - 30 percent

Source: Morning Consult

Iowa - 43 percent

Source: Morning Consult

Illinois - 37 percent

Source: Morning Consult

Idaho - 53 percent

Source: Morning Consult

Indiana - 53 percent

Source: Morning Consult

Kansas - 50 percent

Source: Morning Consult

Kentucky - 55 percent

Source: Morning Consult

Louisiana - 57 percent

Source: Morning Consult

Maine - 40 percent

Source: Morning Consult

Massachusetts - 32 percent

Source: Morning Consult

Michigan - 42 percent

Source: Morning Consult

Minnesota - 41 percent

Source: Morning Consult

Mississippi - 42 percent

Source: Morning Consult

Missouri - 42 percent

Source: Morning Consult

Montana - 41 percent

Source: Morning Consult

Nebraska - 51 percent

Source: Morning Consult

Nevada - 47 percent

Source: Morning Consult

New Hampshire - 43 percent

Source: Morning Consult

New Jersey - 40 percent

Source: Morning Consult

New Mexico - 38 percent

Source: Morning Consult

New York - 39 percent

Source: Morning Consult

North Dakota - 53 percent

Source: Morning Consult

Ohio - 46 percent

Source: Morning Consult

Oklahoma - 55 percent

Source: Morning Consult

Oregon - 37 percent

Source: Morning Consult

Pennsylvania - 46 percent

Source: Morning Consult

Rhode Island - 37 percent

Source: Morning Consult

South Carolina - 51 percent

Source: Morning Consult

South Dakota - 53 percent

Source: Morning Consult

Tennessee - 56 percent

Source: Morning Consult

Texas - 51 percent

Source: Morning Consult

Utah - 46 percent

Source: Morning Consult

Vermont - 30 percent

Source: Morning Consult

Virginia - 45 percent

Source: Morning Consult

Washington - 36 percent

Source: Morning Consult

West Virginia - 59 percent

Source: Morning Consult

Wisconsin - 42 percent

Source: Morning Consult

Wyoming - 60 percent

Source: Morning Consult

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Republicans have been split on the idea. The tax is regressive, and many lawmakers have expressed concern about the optics of increasing taxes after passing their massive tax cut bill.

"The gas tax has its pros and cons, and that’s why the President is leading a thoughtful discussion on the right way to solve our nation’s infrastructure problems," a White House official told Business Insider.

The official also said they would not comment on the exact discussions that took place in the meeting, but Trump was still committed to the tenants of the plan released Monday.

"As Sec. Chao mentioned yesterday, the President is focused on his 4 priorities: spurring $1.5 trillion of infrastructure investment, cutting down the burdensome permitting process from 10 years to 2, providing funding for rural infrastructure, and investing in workforce development. He has said everything is on the table in order to achieve those goals," the official said.

Trump's plan would attempt to prompt $1.3 trillion in state, local, and private investment in roads, bridges, and tunnels using the $200 billion in federal grants.

Trump held a meeting Wednesday with lawmakers from each party and chamber of Congress to discuss ways to move the package forward. As it stands, the two parties disagree fundamentally on how to pay for the investment and how much burden to place on states.

Representatives for multiple lawmakers in the meeting didn't immediately respond to requests for comment.

More from Business Insider:

Getting Divorced

If you're going through a divorce, taxes may be the last thing on your mind, so we're here to help. We've got tips for you on which filing status to choose after the divorce, who can claim the exemptions for the kids, and how payments to an ex-spouse are treated for tax purposes.

Read More

Brought to you by TurboTax.com

5 Tax Tips for Single Parents

Filing taxes as a single parent requires coordination between you and your ex-spouse or partner. Usually the custodial parent claims the child as a dependent, but there are exceptions. A single parent is allowed to claim applicable deductions and exemptions for each qualifying child. Even though you claim your child as a dependent, she may still have to file her own tax return if she has income, such as from an after-school job.

Read More

Brought to you by TurboTax.com

7 Requirements for the Child Tax Credit

The Child Tax Credit can reduce your tax bill by as much as $1,000 per child, if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all seven to claim this tax credit.

Read More

Brought to you by TurboTax.com

Guide to Filing Taxes as Head of Household

The IRS has provided a series of guidelines to help taxpayers understand whether or not they qualify to file as head of household.

Read More

Brought to you by TurboTax.com
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.