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Will Congress Raise Taxes on Gasoline?
Washington can't continue to be Fiscally Irresponsible
(Washington, D.C.) – With current federal infrastructure programs set to expire this year, Congress is expected to vote soon on an extension. According to the nonpartisan Congressional Budget Office (CBO), federal transportation spending will exceed available revenues by $100 billion over the next six years under legislation being considered – prompting some in Congress to push for an increase in gasoline taxes. The federal tax is currently 18.4 cents per gallon of gas; many states impose their own taxes on top of the federal tax.
Infrastructure programs have traditionally been funded by the gas tax, but as spending has increased in recent years, it has far exceeded the $35 billion in annual revenue that that tax provides. According to CBO, the deficit in federal transportation funds will grow to $172 billion by 2024.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"Few in Washington are serious about curbing spending and getting the country's financial matters in order. The White House will not submit an annual budget proposal until 1 month past the legal deadline, and the Senate may not debate a budget plan at all this year. Instead of setting national priorities and matching them to available revenues, politicians look for tax increases whenever they want to spend more . Aren't the American people taxed enough?
An increase in the gas tax would hit low-income Americans harder than anyone. It already costs working families too much to fill up their gas tanks, and many have no alternative for getting to work or school. Congress should reject this proposed tax increase, and find a way to fund infrastructure that does not require new and higher taxes. Families across the country work on a day-to-day basis to live within their means; it's time for Washington to give it a try."