Wash U Expert: Time to raise the gasoline tax?
Falling oil and gasoline prices have prompted some in Congress to debate about increasing the federal fuel tax, which helps fund highway and bridge construction, among other projects. Increasing
the tax, which hasn’t been raised since 1993 and isn’t tied to
inflation, to help offset revenue lost through lower prices at the pump
may seem like a good idea in theory, but it’s much more difficult in
practice, says tax law expert Adam Rosenzweig, JD, of Washington University in St. Louis.