As vehicles become more fuel efficient and drivers drive less, it has become harder for the Federal Highway Trust Fund to keep up with demand for funding new roads and repairing existing roads. A report recently released by the the Institute on Taxation and Economic Policy concludes that if drivers paid just $4.66 more per month in gasoline tax, the system would be fully funded. Read more at the Atlantic Cities:
If the government had implemented such a policy back in 1997, it could have generated some $215 billion by now, ITEP figures. Even subtracting for the $53 billion transferred from the general fund, the trust fund would have had an extra $162 billion to improve America’s crumbling roads and bridges or fund capital transit costs.
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