The Option of an Oil Tax to Fund Transportation and Infrastructure
Keith Crane,Nicholas Burger,Martin Wachs
The Option of an Oil Tax to Fund Transportation and Infrastructure
Keith Crane,Nicholas Burger,Martin Wachs
Federal spending on surface-transportation infrastructure outpaces federal taxes on gasoline and diesel fuel. Increasing fuel efficiency means that fuel-purchase expenditures have dropped, so real revenue generated from these taxes has declined. A percentage tax on crude oil and imported refined-petroleum products consumed in the United States could fund U.S. transportation infrastructure.
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