The Associated Press has just reported that President Bush will likely veto an increase in the gasoline tax, although it remains to be seen whether he would oppose other regulations on energy providers if a revised version of the energy and transportation legislation were to cross his desk.

Here is the piece, from the Associated Press:

WASHINGTON - President Bush dismissed Thursday raising the federal gasoline tax to repair the nation’s bridges at least until Congress changes the way it spends highway money.

“The way it seems to have worked is that each member on that (Transportation) committee gets to set his or her own priorities first,” Bush said. “That’s not the right way to prioritize the people’s money. Before we raise taxes, which could affect economic growth, I would strongly urge the Congress to examine how they set priorities.”

Bush was responding to a reporter's question at a White House press conference. The question referred to last week's collapse of the span over the Mississippi River at Minneapolis.

About $24 billion, or 8 percent of the last $286 billion highway bill, was devoted to highway and bridge projects singled out by lawmakers. The balance is sent in the form of grants to states, which then decide how it will be spent. Federal money accounts for about 45 percent of all infrastructure spending.

The Democratic chairman of the House Transportation Committee proposed a 5-cent increase in the 18.3 cents-a-gallon federal gasoline tax to establish a new trust fund for repairing or replacing structurally deficient highway bridges.