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Gary Cohn talked about infrastructure with members this morning at the Republican Congressional Retreat, per a source briefed on the presentation. Cohn — who sat on a panel with Transportation Secretary Elaine Chao and key GOP members — said the administration's plan targets $1.5 trillion in infrastructure investment, reduces permitting process times and pays for projects in rural areas.

Why it matters: The Trump administration plans to release its infrastructure plan in the next few weeks.

Per a source in the room: There was a discussion about raising the gas tax to pay for infrastructure. Rep. Bill Shuster was pushing them to take a serious look at the gas tax and not rule anything out. Cohn had said that as an administration they are open to supporting Congress looking at all options to raise revenue. There was respectful conversation on the subject, the source told me, with Sen. John Barrasso disagreeing and Sen. John Thune seeming intrigued.

But top Republican sources tell me raising the gas tax seems unlikely given they've just passed a massive tax cut. It would be seen as raising taxes on the middle class and undoing all that good work.

The administration's economic agenda: Start with deregulations, which remains in progress, pass a tax cut (done), and roll out an infrastructure package, which will be tough to get through the Senate this year. 

How they'll achieve their desired infrastructure aims, per the plan Cohn presented:

  • Give special funds to governors for rural projects
  • Spend more on credit programs like TIFIA
  • Create incentives for states to have infrastructure revenue sources that are sustainable

Go deeper

Trump's Tucker mind-meld

Photo illustration: Sarah Grillo/Axios. Photo: Roy Rochlin/Getty Images and BRENDAN SMIALOWSKI/AFP via Getty Images

If you want to understand the rhetorical roots of Trump's Independence Day speech at Mount Rushmore, go back and watch Tucker Carlson's monologues for the past six weeks.

Between the lines: Trump — or rather his speechwriter Stephen Miller — framed the president's opposition to the Black Lives Matter protest movement using the same imagery Carlson has been laying out night after night on Fox.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 11,366,145 — Total deaths: 532,644 — Total recoveries — 6,154,138Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 2,874,396 — Total deaths: 129,870 — Total recoveries: 906,763 — Total tested: 35,512,916Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.

Bolton's hidden aftershocks

Photo illustration: Sarah Grillo/Axios. Photo: Justin Sullivan/Getty Images

The news media has largely moved on, but foreign government officials remain fixated on John Bolton's memoir, "The Room Where It Happened."

Why it matters: Bolton's detailed inside-the-Oval revelations have raised the blood pressure of allies who were already stressed about President Trump's unreliability.