Team Obama Rejects Gas Tax Hike; Boosting User Fee Prospects
Reuters reports that U.S. Transportation Secretary Ray LaHood told a senate committee the administration of President Barack Obama will not sign off on any hike in the increasingly ineffective federal gas tax, though Congress may propose that. LaHood’s declaration signaled that the Obama administration will take the same stance as former President George W. Bush. Revenue generated by the tax of 18.4 cents on each gallon of gas sold in the country goes into the Highway Trust Fund to fix U.S. roads and public transit. That fund has already been depleted once and Congress had to pass emergency measures last summer to replenish it. The tax has not been raised since the early 1990s… The Bush administration also opposed a Read More ›