But congressional Republicans have scuttled previous attempts to raise the gas tax.
The president indicated that the additional money would be directed toward highway construction and fix. ATA has been a staunch supporter of an increase in user fees, specifically in fuel taxes, to cover the growing shortfall in the fuel-tax based Highway Trust Fund.
As more phony claims and higher costs emerge, the already tough task of reforming the tax system becomes even more hard.
The plan, however, was silent on gasoline taxes, a potentially delicate issue given the widespread impact any increase would have on US households. It's impressive and a major departure from the tax code mess we have today. The duty rises to 24.4 cents per gallon for diesel.
Mnuchin also said the administration would "like to see bipartisan support" for the plan.
In a discussion with Fox Business host Maria Bartiromo, Mnuchin said that the White House and House Republicans "share the same vision" for tax reductions. The report cited critics of Trump's claims the plan would boost economic growth from the Committee for a Responsible Federal Budget who called it "magic beans". "And I think that's, frankly, what the president was doing".
On the other hand, Mnuchin said it was important to the US economy to create a tax reform plan that not only benefitted large corporations but small businesses as well.
The conservative group Club for Growth immediately urged Mr. Trump to forget it.
The median income in the United States today is somewhere between 56 and- about $56,000. "Real infrastructure projects are best done at the state and local levels where transparency, efficiency, and accountability are at their highest".
The Trump administration released an outline of a tax plan last week that would slash tax rates for businesses and reduce the number of tax brackets for individuals.More news: Jose Mourinho ponders fielding under-23 side against Crystal Palace
"The president likes lots of different opinions, which is the exact way that I have worked my entire life", Cohn said. CRFB told NBC that "without a plan to pay for it" Trump's tax reform proposal would "explode the debt".
Naturally, the conversation touched a bit on immigration, Trump's signature issue.
GAYLE KING: I know that, but what's it like for you personally? A recent Gallup survey, in fact, found that only 8 percent of Americans fear being laid off, the lowest share since Gallup first asked the question in 1975. "Why could that one not have been worked out?"
Late in his presidency, Barack Obama proposed a new $10 fee on every barrel of oil, something that critics likened to an increase in the gasoline tax.
Historians said Mr. Trump's comments appeared to show the president profoundly misunderstanding American history.
Also on Monday, Trump broke with years of precedent when he sounded open to meeting with North Korean dictator Kim Jong Un, a day after he invited the authoritarian leader of the Philippines, and admitted murder, Rodrigo Duterte. Anyone who supports this mess automatically forfeits the right to be a deficit scold ever again. "But I would do that". He said bankers saw current regulation as a "black box". He said Mr. Kim would have to show signs of "good faith".
The U.S. economy has been in decline for decades.
Mnuchin also argued that regardless of the system in place, banks needed greater clarity and certainty about what the rules are, and that the Trump administration was providing clearer guidance, giving bankers more confidence.
According to Politico's Josh Dawsey, Tara Palmeri, and Ben White, the Treasury Department and White House officials scrambled to complete the tax plan before the artificial deadline.
"You seem happier. Just, content, when you're here in L.A. Tell us how your life has changed".