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Report: Trump endorses 25-cent gas tax hike

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President Donald Trump reportedly has endorsed a plan to hike the federal gas tax by 25 cents to pay for infrastructure improvements.

Currently, the tax is 18.4 cents per gallon on retail gas and 24.4 cents per gallon on diesel.

A report from Strategas Research indicated the increased tax would eliminate 60 percent of the benefit from recent tax breaks for some individuals.

Read more from CNBC.

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