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Susan Collins. Photo: Kevin Dietsch/Getty Images

Sen. Susan Collins (R-Maine) told Sunday's "Face the Nation" that the new tentative infrastructure deal from a group of bipartisan senators will not include a gas tax hike or any reversal of former President Donald Trump’s 2017 tax reform bill.

Why it matters: The group of 10 senators announced the success of their infrastructure negotiations on Thursday, but did not elaborate on how the bill would be paid for except to say it would "not include tax increases."

The big picture: Collins, one of the 10 senators involved in the deal's drafting, gave additional details about the three ways in which the the agreement would be paid.

  • Collins said that there should be a repurposing of unused COVID-19 relief funds for infrastructure projects.
  • Another funding avenue would be the creation of an infrastructure financing authority, which she described as "very similar to the state revolving funds that we used for sewer and water projects."
  • The deal, though it wouldn't include a gas tax increase, would also include a provision to tax electric cars to ensure they pay for their "fair share of of using our roads and bridges," she said.

What she's saying: "There won't be a debt — a gas tax increase, and we won't be undoing the 2017 tax reform bill," Collins said.

  • Collins added she had spoken to senators who are "enthusiastic about the prospect" of repurposing COVID relief funds.
  • "Right now, they are literally free riders because they're not paying any gas tax," she said of electric vehicle owners.

Go deeper

Sep 20, 2021 - Politics & Policy

Democrats propose raising debt ceiling through midterms

Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer. Photo: Stefani Reynolds/Bloomberg via Getty Images

House and Senate leadership announced on Monday that they plan to attach a proposal to raise the debt ceiling through Dec. 2022 to a short-term, government funding bill. The bill must pass before the end of the month or Congress risks a shutdown.

Why it matters: Democrats are taking a huge risk by trying to force through an increase of the debt limit in its must-pass funding bill. The move is wishful thinking on behalf of Democrats who are hoping they can get at least 10 centrist Republicans to balk, as well as an effort to put Republicans on record opposing it.

School principals are not OK

Principal Alice Hom (purple jacket) of New York's Yung Wing School P.S. 124 near a vaccination van in November. Photo: Michael Loccisano/Getty Images

The overwhelming majority of secondary school principals experienced frequent stress last school year, according to a RAND Corporation report out Wednesday.

The big picture: The stress levels among female principals and principals of color were especially stark, with nearly 40% in these groups reporting constant job-related stress, compared to about 24% of male principals and 26% of white principals.

It's official: Stock market having worst start to year ever

Data: FactSet; Chart: Axios Visuals

It's been a decidedly ugly start to the year for the stock market, with particular pain in the tech trade.

State of play: As of the end of trading Tuesday — the 16th session of the year — 2022 is now, officially, the worst-ever start in the history of the S&P 500, according to data from Ned Davis Research, a stock market research shop.