A new Bloomberg National Poll was released revealing that fifty-five percent of Americans would support an increase in the federal gas tax. Raising the gas tax would provide the revenue needed to fix America’s deteriorating roads and bridges.
The federal gas tax has not been raised since 1993. Accounting for inflation since that time, this means the purchasing power of the money has decreased by approximately 40 percent. In addition, the improved fuel economy of cars means more miles traveled, and more wear on tear on roads, without as much money being spent on gas to support maintenance. Without any additional funding, the Congressional Budget Office has projected that the Highway Trust Fund, which is how states receive money from the federal gas tax, will run dry by 2021.