A Federal Commission created by Congress to find ways to help build and repair highways and bridges is recommending a 50% increase in gas & diesel fuel taxes. Is this the right thing to do as the economy is in a recession? Can we really afford this as a country? Yes and Yes. I know for some of you that sounds crazy. Let me explain why….
Gas and Diesel Fuel costs are down around $2.50 per gallon from their record highs earlier this year. A 50% increase in gas and diesel amounts to a 10 to 12 cent a gallon increase respectively. Yes, gas and diesel costs will go back up again over time but there has not been an increase to these taxes in well over a decade. We have bridges collapsing, roads under dire repair and we need to build a better infrastructure for the future.
Our belief is that over the next couple of years that tax should increase by 30-40 cents a gallon or more. With the extra money, we can take that money and start to build and widen more roads along with bridges. This puts people to work. Working people help reduce unemployment as well as spend more money on items. This helps stimulate the economy. It also does something else, it keeps people from driving as much. Public transportation, car pooling, scheduling their trips to the same areas to reduce fuel usage. Additionally, if we tax alternative fuels less, it will help make alternative fuel vehicles more favorable for consumers to buy.
Ok, so today instead of going out and buying gas for your car for $1.75 your going to pay $2.05. For diesel fuel users which is how most of our goods are moved in this country your paying $2.80. What do you get for your money? Better roads, less traffic congestion, improved infrastructure. Not bad!
Let us know your views. More to come on the topic on saving on greenhouse gases, wasted fuel and dependence on foreign oil.
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