President Donald Trump said Monday he would be open to the idea of raising the federal tax on gasoline to pay for an infrastructure investment during an interview with Bloomberg.
“It’s something that I would certainly consider,” Trump told Bloomberg on Monday, saying he would be in favor if the money was earmarked “toward the highways.”
The current federal tax on gasoline is 18.4 cents on unleaded and 24.4 cents on diesel, according to the Energy Information Agency. Congress has not raised the gas tax since 1993.
Trump has proposed investing $1 trillion in infrastructure including roads, bridges, and airports using a combination of private and public money.
Trump’s push for more infrastructure spending has been supported by Democrats. Senate Minority Leader Chuck Schumer and other congressional Democrats released the text of an infrastructure plan in February, but said Trump has not contacted them about the plan.
Trump also told Bloomberg that his one-page tax cut plan released Wednesday was “a starting point” and that he was willing to lose parts of the plan to get it through Congress. He said he wanted to make the cuts permanent.