Trump Open to Gas Tax Increase, Reduction in Taxes for Corporations
US President Donald Trump said on Monday that he would consider increasing the gas tax to provide funding for his infrastructure development project and would be open to negotiations regarding his tax plan proposal.
On Wednesday, the US administration announced that it will propose a major tax overhaul package, including the drastic reduction from 35 percent to 15 percent of corporate tax rates, but it was not clear if Congress would approve the plan.
“It’s something that I would certainly consider…if we earmarked money toward the highways,” Trump said of the potential gas tax increase in an interview with Bloomberg News.
Trump noted that he would not mind if some provisions included in his tax plan released on April 26 would get eliminated in negotiations with Congress.
“Everything is a starting point,” Trump said commenting on the plan his administration had rolled out.
Earlier on Monday, Trump said that a plan for repairing the US infrastructure will be rolled out in two to three weeks. During his election campaign, Trump promised to pour $1 trillion into a national infrastructure rebuilding program.