May 1, 2017

Trump "looking at" breaking up the banks, gas tax hike

Evan Vucci / AP

President Trump told Bloomberg News on Monday that he's open to changes on banking policy and the gas tax:

  • The gas tax: Trump's tax plan, released last week, did not mention the gas tax, which is 18.4 cents a gallon on gasoline and 24.4 cents a gallon for diesel. It was last raised in 1993, when gas averaged $1.17 a gallon. Trump's willingness to talk gas tax is tied to it being used to pay for infrastructure, he said.
  • The banks: "There's some people that want to go back to the old system, right? So we're going to look at that." The "old system," Glass-Steagall, separated investment and commercial banking. It was repealed in 1999, but Trump called for a "21st Century Glass-Steagall" on the campaign trail.
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