As Texans enter the summer travel season and prepare to drive more, gas prices have never...
But the cost to governments already facing a backlog of projects to repair, improve, and expand transportation infrastructure, would be significant. Without the gas tax, the state tax revenue loss for those three months could be as much as $682.3 million. The federal tax revenue loss would be closer to $10 billion, $627.7 million coming from Texas drivers., little has been said about where the lost billions will come from.
Funding for reconstructing Texas roads, replacing aging mass transit equipment, and rebuilding structurally deficient bridges comes primarily from the revenue generated by these gas taxes, paid at the pump whenever drivers buy gas. The federal gas tax stands at 18.4 cents per gallon, where it’s been since 1993. The failure to raise the federal gas tax in nearly three decades has prevented it from keeping up with inflation and the increasing cost of vital materials like concrete, steel, and asphalt.More transportation news
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