Dave Lawler May 1, 2017
Trump "looking at" breaking up the banks, gas tax hike
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 It was repealed in 1999, but Trump called for a "21st Century Glass-Steagall" on the campaign trail.