White House chief economic adviser Gary Cohn was in the news quite a bit Wednesday. First, reports emerged that President Donald Trump had ruled him out as a candidate to become the next chairman of the Federal Reserve. Later in the day, Cohn floated the idea of increasing the federal tax on diesel and gasoline to help fund a major Trump administration infrastructure program.
Speaking to a group of Republican members of Congress, Cohn said they would have a chance to vote on raising the gasoline tax when the administration brings up its infrastructure proposal sometime in 2018. Think about it: raising a user fee as a means of actually paying for improvements to the nation's highways and bridges. What a novel concept!