One hurdle:

the federal gas tax, the nation's number one funding source for transportation projects, has been stuck at 18 cents a gallon since the early 1990s. With average gas prices remaining low at $2.28 a gallon, many governors, from New Jersey to Tennessee to Montana, are raising or considering raising state gas taxes to jumpstart road, bridge, and tunnel repairs.

"Financial Times" editor Ed Crooks joins me now to discuss this.

These states, some of the states, you know, Tennessee, Oklahoma, Alaska, these went Trump fairly significantly and they're considering an increase in taxes which is usually not very favorable to Republicans. ED CROOKS, "FINANCIAL TIMES" EDITOR: Exactly, and as you say New Jersey went and increased their gas tax last year. Yes, it does seem people think there is a real problem that American infrastructure is crumbling, people are really worried about the states of roads and bridges in particular, and they need to do something. I guess you've got to make the case that if you've got to tax something, it's better to tax fuels rather than wages, or profits, or other things that people like and that want to happen.

You know, one of the things about taxation, people will say, if you tax something, you got less of it. And it's probably better to tax fuel consumption and get people to use less fuel, rather than tax wages and have people get less wages or profits. And people make fair profits.