buttigieg. mr. secretary, welcome to the "newshour." there is so much in this plan, we can't possibly talk about it in one interview. but let me ask you: what is the main change going to be in the lives of americans if this becomes law? >> well, the main change is that americans will be able to count on having the absolute best infrastructure. you know, as the report mentioned, we are 13th in the world, and headed in the wrong direction. americans are being expeted to settle for less. and you see that with the holes in our roads. you see that with the condition in our bridges. to say nothing of how things like our airports and our train systems are lagging so far behind what citizens in other developed countries can count on just as a matter of course. the other way americans are going to feel the difference is in the jobs this is going to create. this is going to open economic opportunity, not only to those who work in the transportation sector, but to every american who counts on great infrast

you heard pete buttigieg talk about a user tax. in essence people would be taxed by number of miles on the highways. sometimes driving two jobs like truckers. think of all costs incurred by consumers when the price of shipping goods across the country goes up? many cases you know, liz, capital gains bracket is something for the rich to pay. the way they're looking to do this is across the board. corporate tax increases you know too, end up being passed down to the consumer an kill jobs f you raise the corporate tax, the best place comes to reduce it to reduce their workforce or move the jobs back overseas. perhaps one of the most insidious elements of this new biden tax plan is increasing astronomically the global tax. basically creates an incentive, if you bring any money back, taxed at a higher percent. companies will leave jobs overseas. they will hire overseas. they're not hiring american workers. this plan does nothing but kill jobs. elizabeth: it is a disincentive to invest in the u.s. corporate inversions will come back on i

pete buttigieg said a mileage fee, that would hit people who drive electric cars. he was called off the precipice with that one. if you use the roads, pay for them. that's not what is going on here. >> we have shovel ready jobs building real infrastructure. the keystone pipeline and he killed that right off the bat. go figure. up next, don't you care call it a surge or you are a racist. aoc smearing people warning about the crisis at the border. >> ♪ ♪ dignity. this thing you can neither see nor measure... ...but that demands the return of small moments illness attempts to steal. ♪ dignity demands a rapid covid test, ♪ because we all need an answer to move forward. ♪ dignity demands your heart stays connected to your doctor, so you know it's beating as it should. ♪ it demands a better understanding of your glucose levels, so you can enjoy movie night. ♪ and knowing your baby is getting the nutrition he needs, no matter how you choose to feed him. dignity is not effortless nor easy. at abbott, we fight for it every day, developing life-changing technol

i would be remiss if i did not mention secretary b buttigieg -- pete buttigieg, not only is he skilled advocate but he is a young and nimble and visionary mind, meaning he can help us with autonomous vehicles and maglev trains. there is this vision about maglev service throughout the northeast corridor where you can get from washington dc to new york in less than an hour with stops. that is the kind of transportation system we need. i think it is very important for all americans to understand that. >> let's talk about the president himself, he drew comparisons to the space race back in the 50's and 60's. the idea that we are not only competing with china and their emergence as an economic superpower but also establish, develop nations for business, investment here. when you look at it warm -- from a global perspective and you think about bridges and roads, do we need to broaden the definition of what we think needs to be infrastructure westmark >> he has talked about the importance of 5g. civilian use. you look at the technology surrounding mapping and autonomous vehicle development, a

. >> this young the transportation secretary pete buttigieg told me that this is a jobs plan with what he called climate benefits. he said you can't separate climate infrastructure from a. if you're going to be doing this, you need to make sure it's green. but there are republicans on capitol hill who don't want to even hear the word green. >> right. right. climate and environmental policy have always been a contentious political issue on capitol hill and, you know, republicans are planning on opposing this package for a litany of reasons. probably the biggest reason are the tax increases that the president is about to lay out as part of his proposal to pay for that $2.25 trillion package, but the fact that it emphasizes so much on climate change, on the greening of the economy, it's another reason that republicans will be kind of reticent to latch on to this proposal, but it certainly, as abe mentioned, really makes deep investments in climate and really shifting kind of the american landscape to a more renewable, to a more sustainable path, and i think even just one detail that's rea

just days after transportation secretary pete buttigieg said a good way to fund some of the infrastructure plan maybe -- might be a tax on how far motorists travel, it turns out biden has heft that mileage tax in the dust. it's not in the plan. but before you put your driving on cruise control, this is this: biden's transportation department did get the okay for the state of new york to proceed to the crucial next step in implementing congestion pricing for manhattan. this is a program that calls for a surcharge for vehicles entering the core of of mid iftown manhattan during can -- midtown manhattan during rush hour. it would ostensibly fund transportation improvements. how's this going to go over for big business in new york city? ray mcguire is up running for mayor, the former citigroup global head of investing, no doubt, has pointed opinions on this issue. he's joining us first on fox business. ray, welcome. we're thrilled you're on the hoe. we'll get to infrastructure in just a moment, but there is breaking news about that we need to get your comment on. we're suddenly seeing corporat

jonathan: that was pete buttigieg, the u.s. transportation secretary. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's the price action for you. in the equity market, on the s&p 500, basically unchanged, up 0.1%. in the bond market, yields up to 1.7175%. the world's attention on the president of the united states and day $2.25 trillion plan. tom: this is a sea change in terms of stimulus, and that is what we see on infrastructure. what i like about this, and particularly our next guest, is he is definitive as the experienced deputy. i don't know anyone of this vintage who is deputy or special assistant, who has such an interesting cross-section of experience in washington. jonathan: that man is brian deese, director of the national economic council. big plan. a lot of detail we need to work through. help me understand how you will measure success, beyond just big terms like closing the gap. how will you measure success specifically in the years to come? brian: it is good to be with you guys. we have a major infrastructure problem in t

buttigieg had said, about putting roads on a diet. that it was like actually not like rebuilding the infrastructure, but like getting rid of roads and so james made the point, he said so we had covid relief with no covid relief so we're going to have infrastructure with no infrastructure. maria: that's right. exactly. dagen: the talk point from the left now is oh, the rich are just unhappy about their taxes going up. that's why they're opposed to this. and i'll just point out that when you raise taxes on corporations, it's pretty simple. the argument is we as the u.s. need to compete with china. why then would we raise our corporate tax rate above what china's corporate tax rate is, if we take take it to 28%, if we want to be competitive, number one with. number two, you raise taxes on corporations. you stick it to the people who work for those companies because there isn't going to be hiring or more hiring and that money would otherwise flow to raises so who really gets hurt? this isn't about rich versus everybody else. that's just h

pete buttigieg talked about it. the secretary of transportation. he talked about putting roads on a diet. he talks about sometimes removing roads. this is the infrastructure plan. we need to subtract roads. as james freedom wrote this is a infrastructure plan not about infrastructure just like the $1.9 trillion covid relief plan was not about covid. >> jesse, what do you think will happen? >> i think juan is right. republicans like the infrastructure. they don't like the extra trillion in distribution. biden will send a couple of billion dollars to a green donor to make a half million electric car changing stations and tesla's cost a hundred thousands to drive. we saw this with barack obama. flat wages. chevy and volt and republicans used that to win back the house >> right. >> the only reason that the emissions went down and have been going down since 2007, it's because of the clean natural gas. that's what has done it. he didn't create any jobs. he admitted he didn't. and he didn't create any green jobs either. joe biden looks at that and thinks

pete buttigieg floated the aisle of a mileage tax but has side that will not happen. he said that the biden administration is not going to increase the gas tax. we heard from jen psaki as she was asked well might the top individual rate go back up again to nearly 40%. maybe would there be an increase in estate taxes at this point. the white house is not yet willing to get into specifics, neil, in advance of this big roll-out tomorrow. what they are signalling at this point is that tax increases on the wealthiest and on corporations are at the very core of the president's plan. >> this speech is about his vision, his vision for creating jobs and investing in the industry of the future. he think it's the responsible thing to do to propose a way to pay for that over time. he believes there's more that can be done to make the corporate tax code fair. >> you heard jen psaki that the president said that they could pay for this plan over time. that is something that we heard a few different times today from the press secretary. that is potentially another way in the short te

announcer: pete buttigieg answered questions on his department's plans for updating the nation's infrastructure. members asked about transportation technologies, aviation safety, high-speed rail, the permitting process, and how to pay fertile -- how to pay for it all. [laughter] >> we are broadcasting, guys. everybody just hang on. if you have technical problems, let us know. we will kick off this year with the secretary, but given the length of time for confirmation, the committee could not wait. i am pleased at the secretary is here today. i think it is his first substantive appearance before congress. since his senate interrogation. we are here today to talk about a 21st century infrastructure plan. rebuilding the nation. someone is not muted. >> unmute. >> mute. >> okay. >> we've got to get it together now. in any case, there's a very broad agreement that the american public needs and wants, the american business, individuals, the nation's crumbling infrastructure to be rebuilt. they are tired of potholes, detours, bridges, congestion, and all the problems. they are tired of water mains tha

announcer: pete buttigieg answered questions on his department's plans for updating the nation's infrastructure. members asked about transportation technologies, aviation safety, high-speed rail, the permitting process, and how to pay fertile

last week the transportation secretary put pete buttigieg floated idea, that infrastructure package could be paid for mileage fee, how much you drive. yesterday he walked off of that idea say a gas tax will not be increased to pay for a infrastructure package. buttigieg said i want to reit a a commitment if you're making less than $400,000 a year this proposal will not involve a tax increase for you. end quote. while user fees are being shot down the white house is openly acknowledging that infrastructure will be paid for in large part by tax hikes. >> he of course believes that investing in our infrastructure, continuing to create good-paying union jobs is front and center but he also believes we have an opportunity to rebalance, to take, to address our tax code that is out of date and, some could pay more in our country that are not currently. reporter: neil, the white house has been saying they believe, they want to try to get a bipartisan infrastructure package. everyone wants to build roads and bridges of course but, once we details tomorrow, whether or not there is climate agenda co

. >> this is obviously mega important to transportation secretary pete buttigieg. he talked about the package yesterday. i want to share what he said. >> every road we fix, every bridge we build, we can either do it in a way that's better for the climate or worse for the climate. this is a jobs bill that's going to have climate benefits. and i think that's something we should all be able to get behind. >> here's the thing, jonathan, this all sounds great but people don't like to pay for what they can't see. they especially don't like to pay more money to the government and it just go into a black hole. does the administration need to literally say, here's the bridge, here's the road, here's the train tracks? >> yes, and we saw that with regard to the stimulus under president obama. you saw the sign, go into union station a few blocks if me, you would have seen signs there that said, paid for by the american recovery act, aora. so, yes, i think that's the case. but secretary buttigieg makes a good point, everything they do can be good for the climate or bad for the

transportation secretary pete buttigieg ruled out plans to increase the federal gas tax or charge drivers a fee based on miles driven. the problem is that the federal fund that pays for roadways and transit system is funded by the gas tax, and that currently runs at a deficit. shares of the chinese parent of tiktok trading at a valuation of more than $215 billion. bytedance's value has surged in recent weeks. investors have gained confidence in the business, and the founder has weight options for an ipo. paypal has ruled out a cryptocurrency check out feature in the u.s. starting today. customers with cryptocurrencies in their paypal while it's will be able to use them on paypal merchants. lisa recently said it would -- visa said it would recently use cryptocurrencies on its network. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ ♪ pres. biden: the war against covid-19 is far from won. this is deadly serious. dr. walensky, the head of the center for dis

transportation secretary pete buttigieg ruled out plans to increase the federal gas tax or charge drivers a fee on miles driven. the problem is the federal fund that paves the roadways in transit system is funded by the gas tax. it currently runs at a deficit. shares of the chinese parent of tiktok are trading at evaluation -- a valuation of more than $250 billion in the market. bloomberg learned the value has surged in recent weeks. investors gain confidence in the business. the founder has weighed options for an ipo. a food delivery start is likely to pressure has the marketed range. we looked at investors and nervous markets and they have been weighing in on london's biggest listing this year. the sale would raise $2.1 trillion. global news, 24 hours a day, on air and on "bloomberg quicktake," powered by more than 2700 journalists and analysts in more than 120 countries. ♪ i am ritika gupta, this is bloomberg. ♪ ♪ >> certainly in the u.s., with the financial systems here, whether it is the large banks or others, they are extremely well-capitalized, have a lot bigger pushes agains

here is pete buttigieg. he seems to be stepping back from that. he is the secretary of transportation. >> i think that shows a lot of promise. if we believe in that so-called user pays principle, the idea how we pay for roads is you pay based on how much you drive, the gas tax used to be the obvious way to do it, it's not anymore. so a so-called vehicles miles traveled tax, mileage tax, whatever you call it could be a way to do it. >> is that under consideration? >> no. that's not part of the conversation about this infrastructure bill. so, just want to make sure that's really clear. but you will be hearing a lot more details in the coming days about how we envision being able to fund this. steve: how great is this. only in washington can you say something with clarity on friday and then a couple days later on monday you have exactly a different answer. ainsley: kamala harris is in charge, no, no, no, no she is not. steve: she is the boss. she is not the boss. "the washington post" is -- way. the number now they are going to raise taxes $3 trillio

transportation secretary pete buttigieg says the white house will not propose hiking gasoline taxes or a new vehicle miles traveled fee to pay for its proposed infrastructure spending plan president biden expected to outline how exactly he will pay for his $3 trillion to $4 trillion spending plan during an event tomorrow brian? >> well, i guess they floated it the outcry was pretty loud, realizing a lot of people at a lower income have really long commutes because they can't afford to live close to where they work. and they'll just put that one on the back burner. bertha coombs, we'll see you back in a few minutes. thank you very much. >> all right >>> back now to your money and your next guest says, while you may not be some giant hedge fund like archegos that bertha just talked about, you need to pay attention to one big thing with any company that you invest in that is leverage aka, debt. let's welcome in chad morganlander, portfolio manager at washington crossing advisers. chad, it's good to see you again. maybe the archegos saga is over, maybe it's not but so far, what should be t

the transportation secretary pete buttigieg says there would be no gas tax or mileage tax hikes for consumers. >> we ha've got a trillion doll backlog in roads and bridges. i am encouraged by what i believe to be sincere expressions of interest that i'm hearing from the other side of the aisle on doing something real. let's make very clear, this is a jobs bill that's going to have climate benefits and i think that's something we should all be able to get behind. >> the white house considering higher taxes on corporations and the rich to pay for it. biden of course vowed to not raise taxes on families or individuals making less than $400,000 a year, laura. >>> speaking of climate benefits, a big boost for offshore wind energy in the u.s. the white house plans to deploy 30,000 megawatts of offshore wind mills in coastal waters by 2030. that's enough to power 10 million homes. it's also a potential source of renewable emissions-free electricity that has never fully taken off in the united states. the white house says the program will create thousands of new jobs. >>> a surprise proposal from the

buttigieg say the benefits should outweigh the costs. >> i think there's certainly no net cost there will be a net gain when you think about infrastructure, it's a classic example of the kind of investment that has a return on that investment. >> reporter: now unlike the american rescue plan, that covid relief bill that the white house and democrats pushed through earlier this year, aides say there's more room for negotiation on this bill and they'll say we'll see what will pass through congress. shep >> kayla tausche, thank you. >>> a mardi gras push to get people vaccinated and record rainfall slams the city on a cnbc trip. >>> tennessee, four people killed as historic flooding hits nashville. they got a record more than 7 inches of rain in two days rivers and creeks at or near their highest levels since 2010. >>> louisiana, authorities trying to get people jazzed up about getting jabbed they're hosting a 24-hour vaccine festival in new orleans. the party got underway this morning. anyone 18 years and older can get the moderna shot state officials are increasing outreach after noti

buttigieg who now says neither a gas tax nor a mileage tax will be part of the white house's weeping infrastructure plan which we will learn about on wednesday. the comments mark a pretty strong shifts from comments he made friday when he suggested both ideas could be on the table. a little backpedal there and i'm sure a lot of people are happy to hear that. >> i guess that is how these things work. find out may be -- back to the drawing table. thank you. many schools remain close to in person learning, the board of education is looking to send teachers to provide imperfect classes for hundreds of teenage girls being house at the san diego convention center. there are roughly 500 migrant girls helps in the convention center, 950 more expected to arrive this week was the county supervisor saying the board of education will be sending teachers for in person learning for the migrant children of the convention center, it is great there is in person learning for them, i wish every child in san diego county was allowed the same opportunity. overcrowding at migrant facilities near the south

going back to the thing with pete buttigieg, i think it's important that this is what spineless politicians do you're exactly right it was a trial balloon. but what that means if the trial balloon had taken off, he would have been totally fine with deborah and the biden administration would been fine with it. that reveals an awful lot about, they are not looking to stick this bill just to billionaires for they want to stick it to people who work. exactly they have to pay but also i really do feel that they have contempt for productivity and people who earn money and make money and ought to be able to keep the money that they earn and make. guy: this a be a very regressive tax bill be implemented not now according to pete they ever circle back to it. meanwhile i'm not going to try to spontaneously combustible reading the story. that parents in oakland, california learned a few days ago that not enough teachers have agreed to staff public schools grade k through 2 in person until mid april. that is weeks beyond when the city had said students can return to class early start coming back. too m

there was also a bit of clean up on aisle 5 by the transportation secretary pete buttigieg. he said neither a gas tax or mileage tax. >> shannon: that's how this works. you use a focus group. >> not a good idea. >> shannon: thank you. many schools in san diego are closeed to in person learning the city board of education looking to send teachers to girls housed after crossing the border illegally. there are 500 at the convention center. 950 more expected to arrive this week. a san diego supervisor tweeted they will send teachers for in person learning. i wish every child in san diego county was allowed the same opportunity. as overcrowding worsens a local critic under president trump has been subdued this time it around. congresswoman alexandria ocasio-cortez who tweeted about the border situation in february is focussed on working conditions for amazon drivers than the thousands of migrant children. chad pergram explains the change in narrative. >> the new york democrat alexandria ocasio-cortez let president trump have it during a border surge 2 years ago. >> the united sta

and pete buttigieg and humiliating back down he had to back down after he got blasted for a new tack on the middle and lower income taxes, taxing drivers by the miles that would've slammed the working for in the trucking industry but we have the debate on what they plan to do instead. a ninth woman sherry, accused democrat new york governor andrew cuomo of sexual harassment is a new york state attorney general dozens of cuomo's aides and his team members including to find out whether the cuomo team tried to intimidate into silence cuomo's accusers, how does cuomo's team keep their day job, this would not be allowed on the private sector to republicans, lee zeldin say the world health organization is china's useful idiots for downplaying the possibility that the covid-19 virus leaked out of the laboratory in china even former bill clinton ripped the w.h.o. and their investigation is very unserious senator kitty same biden's people need to get off the train to trump town and get the w.h.o. to go back in and reinvestigate or the world will be at risk from china. thank you for joining us

transportation secretary pete buttigieg in a humiliating backdown. he had to back down after he got blasted for a new tax on the middle and lower income classes, taxing drivers by the mile. it would have slammed the working poor and the trucking industry but we've got the debate what they plan to now do instead. plus this, a ninth woman, sherry vill, accused new york democrat governor andrew cuomo of sexual harrassment as new york state attorney generals subpoenas dozens of cuomo's aides and team members to find out whether the cuomo team tried to intimidate into silencing cuomo's accusers. the debate, how does cuomo team keep their day job? this would not be allowed in the private sector. now republicans, lee zeldin included saying the world health organization is china's useful idiots for downplaying the possibility that the covid-19 virus came out of lab in china. a former bill clinton official ripped the investigation as very unserious. they need to get off the train to chump town and get the w.h.o. to go back in and reinvestigator the world will

pete buttigieg has an idea of how to pay for it. by taxing people by the mile. >> that shows promise. if we believe in the user paid principle, how we pay for roads, pay based on how much you drive, the gas tax used to be the obvious way to do it. it's not anymore. the vehicle miles travel tax or mileage tax, whatever you want to call it could be a way to do it. >> tucker: make poor people pay for it! buttigieg backtracking saying, no, a tax on miles driven is not even under consideration. obvious it is. he was just discussing it. what a liar. we're going to spend $3 trillion. no tax can cover it. you can take everybody's income and it wouldn't cover it. you know. but even the idea that the poorest people in a america, not golden sacks or amazon, they will pay for it. what does that tell you? >> juan: i'd urge you to take a look at the gas tank the next time we fill up. all americans pay tax on gasoline. we pay tax. the more we use the car or the truck or the more gas we -- >> tucker: so pay more. good. tax the overtaxed. that's you

joining me now is transportation secretary pete buttigieg. thanks for joining us. the republicans want to keep infrastructure and any packages limited to roads and bridges, not interested in a green new deal as the committee chairman put it. which is more important to the biden administration, getting the proposal president biden wants in its entirety or getting legislation that's likely more modest burr bipartisan with republican support because it does not seem like you're going to be able to get both? >> well, i think that there's a tremendous opportunity to have a big bold package. i'm seeing it in the conversations with democrats and republicans on the hill and definitely in conversations that i'm having with people across the country. americans don't new zealand a lot of selling to know that we've got to do big things when it comes to our infrastructure, and the truth is you can't separate the climate part from this vision because every road we fix, every bridge we build, we can either do it in a way that's better for the climate or worse for the climate. why

. >> john: and as doug was pointing out, we have no idea what pete buttigieg was talking about when he talked about this road usage tax. unless you live in a city like new york where you they have good rapid mass transit, and that's commercial what it supposed to do. >> what pete buttigieg has put out there, what happens if you live outside of 45 miles and have to work? >> you might be in good shape. >> that's a good point, john. >> you can make lemons out of lemonade. or make lemonades out of lemon. and why her friends and family are asking investigators to take a look at her and investigation. >> sandra: and why senators are learning to blow up the rule. they think the critics of that plan are racist. byron donalds has a lot to say about that and he is revving to go. he joins us, next. refiplus from newday usa can make it happen. refiplus lets you refinance at the lowest mortgage rates in history plus get an average of $50,000 cash for the financial security you and your family deserve. refiplus, only from newday usa. did you know you can go to libertymutual.com to customizes your ca

. >> not to mention pete buttigieg is basically floating the idea of a mileage tax, i don't know, driving your car to work or going to pick up your kids from day care, et cetera. you mentioned the corporate income tax, jackie. that is an especially insidious type of tax because it is not, really not, it is paid not by the corporations it is paid by the employees and paid by the customers. so you know, any economist will tell you there is no such thing as a free lunch. the more joe biden, president biden's administration wants to spend the more they're going to have to tax or borrow, straight out of the average american's pocket. jackie: great point about jobs. if you change the corporate tax policies there will be lay offs come with that. i don't know all are offset what he is trying to do with the infrastructure plan. so you know, they need to consider these things as they make some of these changes. they're not looking to do it in a bipartisan way, looking to use reconciliation bill past the goalpost. i want to look at markets today, guys, what is specifically moving right now. major av

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you drive high. think it would be great because some people that don't drive that much. and then you pay too much on insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user

buttigieg talking about taxing the number of miles people drive. it i a -- appears that might not be the case. stuart: i'm sure you watched last week's press conference, thursday, with the president. how long do you think you'll have to wait to get another press conference with the president? >> oh, i think it'll be a long time. they are very clear in their preference not to have him in this format, also not to have him in the format of a long address, like a joint address to congress which he hasn't done. they keep him as a sound bite president. i think there was a lot of pressure put on him to do that one. i venture to say it'll probably be another hundred days or at least until the media drum beat pipes up and says we need another before we'll see him in that format again. stuart: what do you think? the problem with biden is he doesn't look robust. that's the problem, isn't it? >> i think that's a big part of the problem. i also think he tends to step in it, and he's not good when pressed on follow-up about transparency at the border. i mean, he

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you think it would be great because some people that don't drive that much. and then you pay too much on the insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user pay tax

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you i think it would be great because some people that don't drive that much. and then you pay too much on insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user pay tax m

the administration now through pete buttigieg is saying they may tax how many miles we may drive. require us all to download an app. on smart phones or install something in our vehicle to tell the government where we're drivinger single minute so the government can send a tax bill at the end. steve: they already know they are tracking us all. ainsley: if you move to a lower tax state they are going to tax you if you move during the pandemic. speaking of the pandemic, we all want to note origin of how this thing started because some people have lost their lives and it's just a paused our entire world. and the w.h.o. sent a group of experts over to china to try to investigate and jamie mets zelle who is the former national security official in the clinton administration and advisory committee interviewed on "60 minutes" said this is no investigation china is setting all this up. listen. >> really call what's happened now an investigation? it's essentially a highly chaperoned and curated study tour. everybody around the world is imagining this is some kind of full investigation. it's

mike: i want to play a clip from you from transportation set tear pete buttigieg. i will ask you to respond. >> if we believe in so-called user pays principle you pay for roads based on how much you drive. gas tax used to be on just way you do it, it is not now. the vehicle mileage tax could be a way to do it. mike: congressman, do you agree? >> that is in the state legislature. i chair the transportation housing committee. i was first author of first em t-bill here in california. that is a possibility. there are equity issues we have to look at, vis-a-vis people have to travel 2 1/2 hours each way to get to work. but those things i think we can get to work. mike: are you optimistic there will be bipartisan support in the end on infrastructure? do you think democrats will have to do it on their own? >> i'm optimistic by nature just like president biden but if we can't, it is too much of and your again sy we need to go ahead. we should listen. i would say, i don't agree with senator braun previous guest on almost everything, when they did the tax cut for the wealthy

buttigieg says some roads need to go on a diet. here is hoping they're not the ones that need to get to work. that is it for us this week jerry will be back next week on the wall street journal at large. thank you for joining us. ♪ >> "barron's roundtable" sponsored by invesco qqq ♪ ♪. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead i am jack ought her. pandemic lockdowns change the way companies do business, dan springer will tell us what's next with the work from technology. later how to improve returns on your portfolio with solid companies that pay big dividends but we begin by always what we think are the three most important things investors should be thinking about right

buttigieg we could have a real problem if he wants to cut back on what were putting out on the road not just production but lack of component you will see the impact us when it comes to the financial side anyone who is investing. maria: that is a great point not just impacting our businesses but the stock market as well. last fall california push a mandate that every new car sold in the state would be an electric model by 2035. what happens if more states do that? >> that's going to be a problem, right now two senators trying to push biden to make a deadline date to 2030 which is five years prior just so you have an ids you can get a feel for this as we say here today it's about 2% of all vehicles sold that's 15.5 million cars and light duty trucks were sold, 2% are electric vehicles, that is just plug-in electric, they wanted to be 10% before we even get to 2030 and needed to be 100% california that would destroy the auto industry, you have to remember this does not work for everyone there needs to be a mixture of answers and you have other parts coming online which could be a bett

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you i think it would be great because some people that bone dry them much and then you pay too much on insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user pay tax may b

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you think it would be great because some people that bone dry them much and then you pay too much on insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user pay tax may be

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you drive home. think it would be great because some people the bone dry them much and then you pay too much on the insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user

the infrastructure status quo as a threat to our collective future that's transportation secretary pete buttigieg telling a congressional committee. >> that now is the time to invest in the nation's infrastructure across the country. we face a trillion dollar backlog of needed repairs and improvements with. >> hundreds of billions of dollars in good projects already in the pipeline. keep in mind that more than 230,000 of our bridges are in need of repair. and the country's highway system is falling apart. >> one in 5 miles of our highways and major roads are in poor condition. that's a 186,000 miles of highway. >> so to pay for a trillion dollars or more and refurbishing the biden administration is now suggesting a mileage tax a tax on how much you i think it would be great because some people that don't drive that much. and then you pay too much on the insurance. i don't try to make my car. >> i may be dry. less 5,000 miles per year. so that would be good for you for me, but maybe for orders, not with the electric car growing in popularity and the gas tax just insufficient a user pay t

eric: well, that's transportation secretary pete buttigieg as the biden administration is now considering a tax on drivers depending on how many miles they drive. this is a new way to raise funds besides the gas tax to fund our nation's highways and bridges. this comes as president biden is scheduled to go to pittsburgh this next week to build up support for his $3 trillion infrastructure plan. but, you know, taxing you to drive is going to get a lot of of attention. associate editor at "the wall street journal," john bussey, joins us now. and he is also a fox news contributor. john, look, in some places there is a crumbling infrastructure in this country. they say 130,000 or so bridges are structurally deficient, they need to be replaced. one way to do that is to tax you, what, by the mile? >> that's a possibility. that's getting floated along with a lot of other ways of funding the infrastructure program. and you're right, eric, a lot of work needs to be done. if anybody's been out on the roads, particular around any metropolitan area, you can see how much infrastructure repair or repla