Gas tax running toward empty
Nearly everyone seems to agree that the federal and state consumption taxes on fuel are becoming obsolete, but solutions are not easy to come by. The federal gas tax hasn’t been raised since 1993, and the state tax since 1997. Meanwhile, improved fuel efficiency, hybrids, alternate fuel vehicles and inflation have sliced the tax revenue and its buying power considerably, and consumption taxes in general are at odds with federal energy policy. Here’s a menu of options, courtesy of the Wall Street Journal. Click here to read the article.