Trump's gas tax would wipe out 60% of tax cut benefit

[Piracy Raja]

Trump's gas tax would wipe out 60% of tax cut benefit for individuals, analyst estimates

• President Trump reportedly endorses the idea of a 25-cent per-gallon gasoline tax to pay for infrastructure improvements for roads, bridges and highways.
• Strategas Research points out that the higher tax, along with expected increases in fuel costs, would take away about $71 billion from consumers, or 60 percent of the expected $120 billion gain from tax cuts.
• The increased cost of gas at the pump would also be nine times larger than the estimated $4 billion companies are handing to workers in the form of bonuses, due to corporate tax cuts.

https://www.cnbc.com/2018/02/15/trumps-gas-tax-would-wipe-out-60-percent-of-tax-cut-benefit.html?__source=sharebar|twitter&par=sharebar

[Pitta]