Bloomberg L.P.

Trump says he's willing to consider raising gas tax

President Donald Trump on Monday said he will explore the possibility of higher gasoline and diesel fuel taxes, suggesting an increase could pay for his ambitious infrastructure plan.

"It's something that I would certainly consider," Trump told Bloomberg News in an interview.

The president indicated that the additional money would be directed toward highway construction and repair. That's been a problem area because fuel taxes have been unchanged since 1993 and created financial challenges for preserving the Highway Trust Fund.

The federal government currently finances its trust fund with an 18.4 cents per gallon tax on gasoline and a 24.4 cents per gallon...

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