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tazzygirl -> RE: Obama touts $50 billion transportation proposal (10/11/2010 10:30:27 AM)
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quote:
ORIGINAL: cuckyman
Typical lib response...never let any crisis go to waste without an excuse to tax and spend more money we don't have! Decades ago we instituted the 'highway trust fund' funded by over 54 cents per gallon on gasoline purchases nation wide to be placed into a "highway trust fund" to be spent ONLY on roads and bridges....well guess what?
The first federal gasoline tax in the United States was created on June 6, 1932 with the enactment of the Revenue Act of 1932 with a tax of 1 cent/gal (0.3¢/L). The U.S. federal gasoline tax as of 2005[update] was 18.4¢/gal (4.86¢/L), and the gasoline taxes in the various states range from 10 cents to 33 cents, with an average about 22 cents per U.S. gallon (5.8¢/L), making the average combined tax on gasoline 42¢/gal. Unlike most goods in the U.S., the price displayed includes all taxes, rather than being calculated at the point of purchase.
http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
It even includes a cute lil chart showing the taxes on gasoline and deisel. Your estimate comes closer to deisel than gas.
Then-Secretary of Transportation Mary Peters stated on August 15, 2007 that about 60% of federal gas taxes are used for highway and bridge construction. The remaining 40% goes to earmarked programs.[4] However, revenues from other taxes is also used in federal transportation programs.
http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
The Highway Revenue Act mandated a three cent tax, increased to four cents in the late 1950s and the tax held steady at that level until the passage of the Surface Transportation Assistance Act in 1982. After President Ronald Reagan approved the act on January 6, 1983, the tax was increased to nine cents and mandated the establishment of the Mass Transit Account, splitting the tax with 8 cents going to the Highway Account and one cent going to the Mass Transit Account.
Politicians later seized on fuel taxes as an area where taxes could be collected for deficit reduction. On November 5, 1990, in an effort to reduce the deficit, President George H. W. Bush approved the Omnibus Budget Reconciliation Act of 1990, which increased the gas tax another five cents - half going to the Highway Fund and half going to deficit reduction. President Clinton increased the gas tax by 4.3 cents when he signed the Omnibus Budget Reconciliation Act of 1993 on August 10, 1993. The total tax to 18.4 cents per gallon. However, the Taxpayer Relief Act of 1997 redirected the 4.3 cent hike to the HTF.
The general motor fuel tax still stands at 18.4 cents; however the Senate Committee on Commerce, Science and Transportation, formed in 2005 discussed raising the federal gas tax to 40 cents per gallon over five years. In its current form, the tax would be raised 5-8 cents annually for five years, then be indexed to inflation. [2]
The federal tax on motor fuels yielded $28.2 billion in 2006.[3]
http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
All liberals.... hmmm... Didnt know Reagan and Bush were liberals now.
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