White House economic advisor Gary Cohn discussed raising the federal gas tax with congressional Republicans during a GOP retreat. The hike would help pay for President Donald Trump’s infrastructure plan, which aims to generate $1.5 trillion in improvements.
Jake Novak, CNBC.com senior columnist has some thoughts:
Some ideas just never die, no matter how bad they are.
Politicians are particularly guilty of clinging to bad ideas. One idea too many politicians from both major parties can’t seem to let go of is the belief that we should raise gas taxes to pay for infrastructure projects.
On the surface, this sounds like responsible government. Politicians need to do the right thing and stop being so scared of telling the voters they need to pay more for those roads we rely on every day, right?
Read the entire column here.