"The federal gas tax has lost an astonishing 81 percent of its purchasing power since it was last increased in 1993 - and almost all (77 percent) of that erosion is because of the runaway cost of building highways, according to a new analysis from Consumer Reports."
"We were surprised at how little they factored into it, and how significant increases in the cost of building and maintaining roads has been,"
The federal gas tax has lost 81 percent of its purchasing power since 1993, primarily due to rising highway construction costs. This erosion has led to increased reliance on the general fund, impacting non-drivers. Contrary to claims, electric vehicles and fuel-efficient cars have minimally affected Highway Trust Fund revenues. The report emphasizes the need for Congress to explore alternative funding strategies as the current gas tax is insufficient for maintaining the transportation system, especially with upcoming federal transportation policy renewals.
Read at Streetsblog USA
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