Gasoline tax: Funny how government works.....

Mar 26, 2021 | Jeremy Goldfarb


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In an article I spotted today on CNBC (click here), there was a short section on establishing a mileage tax as opposed to increasing gasoline taxes. The proposal is being floated on the cusp of what may be the single largest US infrastructure spending package ever. And then I hear the sentence "sustainable funding streams" and it hits me like a ton of bricks. 

 

Gasoline taxes were a means to create government revenues that would finance things like road infrastructure improvements, but with the ever increasing efficiency of fossil fuel consumption, and now the onset of massive electric vehicle adoption, governments appear to be fearing the worst. 

 

They convinced you to go green and buy electric in order to protect the environment. The unforeseen consequence of that (at least that's what they would lead you to believe) is that gas tax collection revenue is going to go into the toilet. 

 

The money has to come from somewhere right? What is you are driving a vehicle with an internal combustion engine........does that mean you will pay double?

 

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