Carper bill would raise gasoline, diesel taxes for Highway Trust Fund

US Sen. Thomas R. Carper (D-Del.) has introduced legislation that would hike federal gasoline and diesel fuel taxes to raise revenue for the federal Highway Trust Fund. He said his bill would increase the taxes, which have not changed since 1993, by 4¢/year for 4 years, and subsequently index them to inflation.

“America has funded transportation systems, including the entire Interstate Highway System, with the [gasoline] tax for 83 years,” Carper said. “Inflation, fuel-efficient cars, and other factors mean we don't take in as much money as we used to, yet the need to maintain and improve our transportation systems hasn’t dropped. In fact, most experts argue we need to be doing more.”

He said the measure provides an alternative to repeated budget crises, increasing the national debt, and borrowing money from foreign governments to improve the domestic transportation system.

“At a time when [gasoline] prices are some of the lowest we’ve seen in recent memory, we should be willing to make the hard choice to raise the federal tax,” Carper said.

Specifically, the bill would extend and expand the earned income (EITC) and child (CTC) tax credits, he said. It would make both credits permanent, as well as expand the EITC for childless workers, index the CTC to inflation, and make it easier for working Americans who qualify to claim the EITC.

Contact Nick Snow at nicks@pennwell.com.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...