Trump’s infrastructure initiative is missing a key piece: How to pay for it.
The recommended solution is to raise the federal gasoline tax, which has remained steady at 18.4¢ a gallon since 1993. There’s a push by the U.S. Chamber of Commerce to hike the tax to 43.4¢, 5¢ a year for five years; and index it to account for inflation and fuel price increases.
Other powerful lobbying groups strongly oppose any hike. Odds of such a boost are low but improving with Trump seemingly on board. He joins the head of the House transportation panel, but others in the GOP are not so sure. They’re wary of enacting a broad gas tax hike, especially during an election year.
So they giveth with one hand and taketh away with the other.