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December 14, 2012

You're Paying Too Little at the Pump

Steve Yetiv, New York Daily News


New York Daily News

How can we address our enormous federal deficit, persistent national security concerns and the threat of climate change at the same time? By raising the national gas tax. The U.S. now maintains a federal gas tax of just 18.4 cents — modest compared to most industrialized nations: For example, Britain’s equivalent comes out to nearly $3.50 per gallon. The American tax, started during the Great Depression, hasn’t been raised since 1993.

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TAGGED: Alan Greenspan, Dan Akerson, Martin Feldstein, price at the pump, gasoline tax, gas prices

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