the american trucking association recognized that a 20 cent per gallon increase on the gas tax. what is your view on this subject? the secretary: the president has not declared anything out of bounds. so everything is on the table. the gas tax, like many of the other pay-fors that are being discussed, is not ideal, there are pros and cons. the gas tax has adverse impact, regressive impact on the most vulnerable within our society. those who depend on jobs, who are hourly workers. so these are tough decisions. that is why once again, we need to start the dialogue with the congress and so we can address these issues on this very important point. reporter: would you clarify your answer to john in the first question. are you saying taxes will increase or tolls will increase or they won't? the secretary: that is a decision that is up to the state and local governments and also it's going to depend, the gentleman mentioned federal gas taxes. these are tough decisions. we all want better infrastructure, but unfortunately there isn't enough money in the world to pay for all the infrastr

the american trucking association recommended a 20 cent increase on the gas tax. what is your view? elaine chao: the president has not declared anything out of bounds, so everything is on the table. like many other issues being discussed is not ideal. the gas tax has had a very aggressive impact on the most vulnerable, those who depend on jobs, our hourly workers. these are tough decisions, which is why once again, we need to start the dialogue with the congress so we can address these issues on this very important point. reporter: did you verify your answer to john from the first question? are you saying the taxes will increase, or the polls may increase, or they won't? elaine chao: that is a decision up to the states and local governments. it will depend, as that government mentioned -- as a gentleman mentioned, the gas taxes. we all want infrastructure but there is not enough money in the world to pay for all the infrastructure, which is why the president's infrastructure privatees the sector. private sector pension funds are an enormous source of capital for funding public infra

the road. the trucking industry. joining us right now is chris spear, the ceo and president of the american trucking association. g me. >> maria: the president tweeted this out this morning, this will be a big week for infrastructure after so stupidly spending $7 trillion in the mideast, it's time to start investing in our country. what do you want to see from the infrastructure plan from the president? >> the president's right, we'red we're delighted to have the debate. we're happy the president made it a priority. now the real work begins, paying for it. infrastructure is not free. it's not cheap. and american trucking's not going to whistle past the grave dhs yargraveyard on this. we're proposing a building america fund. it will raise $340 billion over 10 years. it's real money. it's immediate. it will shore up the trust fund. it's conservative, less than 1 cent on the dollar to administer it. we need real money on the table. that's what we want to see out of the h the debate. we're here to help the congress and the president get an infrastructure across the finish line. >> this is mike murphy. we hear so much

the truckers, the american trucking associations recommended a 20 cent per gallon increase in the gaswhat's your view on the subject? >> well, the president has not declared anything out of bounds. so everything is on the table. >> a gasoline tax increase is definitely not on the table in elaine chao and mitch mcconnell's home. >> let me just say we're not going to raise the gas tax. we're not going to raise the gas tax. >> that was mitch mcconnell a couple of years ago. and that remains republican orthodoxy. so he won't have to be the one who publicly shoots down his wife's comment about the gasoline tax increase being on the table there are plenty of other republicans in the house of representatives who can do that for him there is no way that this republican president and this republican congress is going to raise the gasoline tax, which funds highway construction and repair in this country. and the reason that the truckers who would carry the heaviest burden in a gasoline tax increa increase increase want the increase is because they know american highways will continue to crumble

the early stages of the infrastructure talks. ,rancine: i was reading something about the american trucking associationtion fuel. would that not hurt the consumer ultimately? kevin: when you look at just the trucking industry lobbying power in washington, you cannot ever count them out. .hey are talking about a tax it is difficult to see how republicans would get on board with some type of tax increase, particularly as it impacts the energy sector. on the flipside, the trucking industry with the rise of autonomous regulatory regimes just the beginning, the foundation being late and starting to increasingly make their voices more heard. michael: thank you very much. if the memo comes out today, you will be a busy person. will be busy but listening to john denver. [laughter] michael: have a good time in west virginia, almost heaven. joining us is an old friend of the program, gary shilling. and shahab jalinoos of credit suisse is with us. gary, you had been a round for a long time, not to call you old. >> careful. michael: you have seen the political stuff come and go, do the markets care about any of th

the truckers, american trucking association recommended a 20 cent per gallon increase in the gas tax.s your view on this subject? >> well, the president has not declared anything out of bounds, so everything is on the table. the gas tax, like many of the other pay fors that are being discussed, is not ideal. there are pros and cons. the gas tax has adverse impact, very regressive impact on the most vulnerable within our society. those who depend on jobs, who are hourly workers, these are tough decisions, which is why once again we need to start the dialogue with the congress so that we can address these issues on this very important point. >> can you clarify your answer from the first question? were you saying there are strings attached. are you saying tolls may increase, taxes will increase or they won't >> that is a decision that is up to the state and local governments. and also, it's gonna depend, as the gentle man mentioned, about federal gas taxes. these are tough decisions. we all want better infrastructure, but unfortunately there's just not enough money in the world to pay fo

in order to fund at least some of the infrastructure spending was come in the president and ceo of american trucking association guy who runs america's trucking industry essentially, why are you in favor of a gas tax? >> over the last 60 years it has built the us highway network and trucking pays half a tab into the highway trust fund and we are willing to pay more, this is our backyard, we drive on it every day and understand it is an investment not only in our industry but the economy. eliminating congestion, providing greater safety, this is why this investment is so needed and we support paying more. stuart: i take it the potholes which we do see around the country take a real toll on a big rig? >> they do indeed and even on regular motors, passenger vehicles cost $1500 a year, $500 spent repairing the vehicle, that is the cost of doing nothing, that is what is regressive here, and we can't afford to let it pass any longer with funding and real money. stuart: trucking company can write off the cost of gasoline as a business expense sewing increase doesn't affect you that badly. >> it is passed through but w

the c cmber ofmerce and american trucking association want to raise the gasaxan idea trump is considering but republicans loathe. >> we are not going to turn around and raise taxes for infrastructure, period. >> reporter: on capitol hill, infrastructure will be a heavy unlike tax reform it requires bipartisan support and involvement from up to nine congre aional committees seven federal agencies. on top of that, white house official acknowledge any progress made on infrastructure has to happen in the next six months, before the august recess and before all eyes turn to the midterm election se for "nightly business report," i'm kayla touchy, washington. >>> at&t tops expectations thankso a larger subscriber base. that's where we begin tonight's market focus. after the bell, the telecom giant reported profits in sales that exceeded expectations as more customers signed up for accounts and fewer left the network. they are forecasting earnings t for 2018 te significantly above estimates. at&t shares initially rose following the results and they finishp the regular season a penny to $37.45. >>

the truckers, the american trucking association in favor of a 20% gallon, 20% gallon. as for the president come he's not rid the idea off entirely. i don't know if it's completely off the table. if you take into account the u.s. chamber of commerce hillary's $375 billion over the next decade. that is pretty significant. neil: john, thank you very much. whether this goes anywhere or not, the time you got budgetary constraints, the president saying this is kind of the hail mary pass to see something done on this front. the president is tinkered around with the idea that since dwight eisenhower. market watcher michael bloch who came decades after eisenhower, but easier to offer expertise. fox business charlie gasparino and deirdre i think i was born under the carter administration bolton. good to have all of you here, thank you very much. it's all about the issue of paying forward in all of that. does wall street now -- i'm sorry michael but i'm looking at john. do you think the gusts upon this will go anywhere will concede something on it, or not. the mac it's a real tigh

the trucks out there, i see eminem hauling paid 24th of for diesel. the trucking industry curiously enough the supportive of the gas tax. american trucking associationsis quote, the fuel tax is the most conservative, cost effective and viable solution. there's a reason why ronald reagan twice finds this idea into law. the guys in the trucking industry have a vested interest in this eisenhower expressway by the way has not been expanded in decades and it's always a pain in the bumper to traverse because it's always backed out. i could certainly use some help. where the rubber meets the road is a problem because that is where the rubber literally meets the road. neil: i know they are open to that. are they open to 25% gallon hike in the federal tax hike? >> is a dog theoretically gradually. they like it a lot better than they like tolling and people say that is because trucks to a lot more. they're rougher on the road in the cars and make it harder on tolling than they do in a gas spread over everybody. you can't do infrastructure, neil, without the money coming from somewhere. gas tax or tolls i don't know where else you want to take it discriminately

organizations including the national grocers association, the national association of convenience store the food marketing institute, the american pizza community, the national association of truck stop operators, amongst many, many others. i want to also reiterate that this bill again is bipartisan and has passed the energy and commerce committee 29-14 in this congress and last year in the house where it passed 266-144. bottom line is this. it clarifies that establishments acting in good faith will not be penalized, particularly in a criminal way, for inadvertent human error and reasonable variations in serving sizes and increed -- ingredients, giving them 90 days to correct the violation before ebb forcement action is brought by the f.d.a. i would urge my colleagues to support this bill, to vote for it, and with that, mr. speaker, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. all time for debate has expired this pursuant to house resolution 725, the priest question is ordered on the bill as amended. the question is on engrossment and third reading of the bill. those in favor say aye. those opposed, no. the ayes have it. third reading.

the president's infrastructure proposal that we will be also discussing. >> madam secretary? >> thank you, secretary chao. federal gas tax has remained 18.4. u.s. chamber of congress gas tax of 25 cents per gallon, american trucking associationmmended 20% gas tax. what's your view on the subject? >> the gas tax is not ideal. there are pros and cons. the gas tax has adverse impact, very aggressive impact on the most vulnerable within our society. those who depend on jobs, hourly workers. that's why once again we need to start the dialogue with congress so we can address issues on this very important point. >> i take it by your answer from john are you saying there are springs attach and that tacks will increase and tolls will increase or won't? >> that decision is up to the state and local governments and also it's going to depend, you know, as that gentleman mentioned, about federal gas taxes. unfortunately there's not enough money in the world to pay for infrastructure. private sector pension funds are a tremendous source of capital. there are states that disaallow. we hope that those restrictions can get removed and those states and localities that want to work with the private sector, it's their decision as to whether the