financetom
Business
financetom
/
Business
/
Trump nominee says Boeing needs 'tough love,' EVs should pay for road use
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump nominee says Boeing needs 'tough love,' EVs should pay for road use
Jan 15, 2025 8:58 AM

WASHINGTON, Jan 15 (Reuters) - President-elect Donald

Trump's nominee to head the U.S. Transportation Department said

Boeing ( BA ) needs "tough love" to get back on track after a 2024

mid-air emergency and that electric vehicles should pay to use

roads.

"We have to make sure they are implementing their safety

plan. We have to push the (Federal Aviation Administration) to

make sure they're implementing their safety plan," former House

lawmaker Sean Duffy told the Senate Committee at his

confirmation hearing.

Duffy said he would work "with Congress and the FAA to

restore global confidence in Boeing ( BA ) and to ensure our skies are

safe."

"Boeing ( BA ) is a national security issue. Boeing ( BA ) is the largest

exporter of American product - incredibly important. In one of

my meetings someone said though they need tough love, which is

what they do need," Duffy said.

The FAA is maintaining tougher oversight of Boeing ( BA )

indefinitely, a year after a door panel missing four bolts flew

off a new Alaska Airlines Boeing 737 MAX 9 in mid-air.

It has also barred Boeing ( BA ) from expanding production beyond 38

MAX planes per month.

FAA Administrator Mike Whitaker plans to step down on Jan.

20, while Deputy FAA Administrator Katie Thomson left the agency

last week. Trump has not yet named a new nominee to head the

department.

Most revenue for federally funded road repairs is collected

through taxes on diesel and gasoline, which EVs do not pay.

"They should pay for use of our roads. How to do that, I think,

is a little more challenging," said Duffy.

Some states charge fees for electric vehicles to cover road

repair costs. Congress for the past three decades has opted not

to hike taxes and instead used general tax revenue to address

shortfalls in the federal highway trust fund.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's Going On With Founder Group Limited Stock Today?
What's Going On With Founder Group Limited Stock Today?
Jun 17, 2025
Founder Group Limited ( FGL ) shares are trading lower Tuesday despite the company announcing a new strategic collaboration in the renewable energy sector. What To Know: The stock initially surged to around $1.45 before pulling back Tuesday morning. The company disclosed it signed a memorandum of understanding with GCL Systems Integration Technology to jointly explore and develop renewable energy...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Indonesia Energy (INDO) Stock Surges 40% As Mideast Tensions Spike Oil Prices
Indonesia Energy (INDO) Stock Surges 40% As Mideast Tensions Spike Oil Prices
Jun 17, 2025
Shares of Indonesia Energy Corp Ltd ( INDO ) are trading higher by 40% to $5.59 Tuesday afternoon, catching the eye of investors and trending across social media platforms. Tuesday’s rise comes as escalating geopolitical tensions in the Middle East spark fears of a wider conflict, driving crude oil prices higher. What To Know: Indonesia Energy ( INDO ) is...
Qualcomm Poised for Long-Term Growth Despite Near-Term Headwinds, BofA Says
Qualcomm Poised for Long-Term Growth Despite Near-Term Headwinds, BofA Says
Jun 17, 2025
03:43 PM EDT, 06/17/2025 (MT Newswires) -- Qualcomm's ( QCOM ) stock likely has limited near-term catalysts, though the chip supplier is poised to benefit from several growth initiatives in the long term, BofA Securities said Tuesday. The brokerage lowered its price objective on the company's stock to $200 from $245, but reiterated its buy rating. The handset market is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved