A group of bi-partisan political veterans think they have the answer to the gas tax issue. For a while now there has been talk of raising the gas tax to pay for infrastructure. The concern though is that it’s a bad idea to raise taxes during a recession.
Former Senator Bill Bradley, former Governor Tom Ridge and former comptroller general David Walker have an idea they think will work- set a new gas tax that goes up or down based on gas prices. When gas prices are high, the tax is low, and therefore more affordable to the average person. When prices go down, the tax would go up, and we wouldn’t notice it much because we would have already been paying high taxes anyway.
Interesting idea but you’re probably thinking it won’t pay for much infrastructure if prices don’t go down. Well the team thought of that too and suggested also placing a 5% per barrel tax on oil that the producer, not the consumer, would pay.
So how much money would this scheme bring in? DCStreetsBlog.org has the answer.