President Trump Suggests Gas Tax Increase to Fix Infrastructure
A bipartisan meeting was recently held at the White House where President Donald Trump suggested a $0.25 increase in gas would help cover a new infrastructure plan.
According to Drive Mag, the new infrastructure plan would have an ultimate goal of raising $1.5 trillion to help fix America’s infrastructure. Although, about $200 billion of that cost would be used for federal spending. Private investment and tax dollars would fund the rest.
President Trump spoke upon the new infrastructure at the meeting.
“For too long, lawmakers have invested in infrastructure inefficiently, ignored critical needs, and allowed it to deteriorate. As a result, the United States has fallen further and further behind other countries,” Trump said. “It is time to give Americans the working, modern infrastructure they deserve.”
This infrastructure plan would fix things such as poor road quality. At this time in the United States, it is estimated that over one-third of the major roads are in poor or mediocre condition. In order for cars to stay in good shape, these roads must be fixed. However, is a $0.25 increase in federal gas tax a good idea?
Unfortunately, according to MarketWatch, the government is no longer able to cover all of their roads spending with the use of the standard gas taxes. Gas taxes only cover less than half of state and local road spending. This is a major reason as to why a majority of the states across the country have had to raise their gas taxes over the past few years.
The suggestion of the price increase via Trump did not go over well with many people. In fact, a majority of those voting upon the increase did not seem to like it at all. Some Republicans, however, did choose to support the move. Even though many people were not receptive to the increase, everyone knows that things need to change.
In the past, Congress funded studies that would help find alternatives 2 increasing the gas tax. Since they don’t like the idea of making such a big change, they’re curious to see what other options are out there.
As for now, the $0.25 increase proposition remains at a standstill it will not be passed until all parties can agree on the same thing.