As cars become more fuel efficient, the gas tax, traditionally used to fund federal transportation projects, just isn't cutting it anymore, and time is running out for Congress to pass an infrastructure reauthorization bill to avoid a shutdown.
According to the Association of Equipment Manufacturers (AEM) spokesman Michael O’Brien, the Highway Trust Fund will run out of money on May 31, unless Congress can "avoid another artificial disaster."
"With just 80 days remaining until a partial government shutdown of highway programs, it's time for tax writers in the House and Senate to put their cards on the table," O'Brien said.
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According to The Hill, the government requires about $50 billion a year to spend on transportation infrastructure, and only gets about $34 billion in tax revenue by charging consumers more at the pump. Some lawmakers have talked about raising the gas tax to make up for the shortfall, but it's still a matter for debate.
Sens. Rand Paul (R-Ky.) and Barbara Boxer (D-Calif.) have suggested taxing overseas corporate revenue as part of a "repatriation" proposal that President Obama also supports, though some see this as only a short-term solution. Others, including the conservative Heritage Action group, recommend repealing the federal tax and allowing states determine taxes and project funding at a local level.
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