Federal Gas Tax set to expire September 30

[Eesctom]

As Reuters reminds us, Congress will have to deal with the gasoline tax this fall. The levy, which produces several billion dollars in government revenue annually, is approximately 18.4 cents for every gallon of gas sold. The proceeds help maintain our roadways and now-crumbling infrastructure. Set to expire on Sept. 30, just after Congress returns from recess, the tax isn't indexed for inflation and hasn't been adjusted in an astonishing 18 years. So you can see why we are a bit concerned over its renewal.

There are a handful of possible outcomes here. First, Congress could postpone the decision, temporarily extending the tax's expiration deadline. Second, it could simply reinstate the current tax, keeping the 18.4-cent rate in spite of the fact that much of our road network is falling apart. And third, it could abolish the federal tax altogether, letting individual states determine how much to collect at the pump. If we're lucky -- and this is not sarcasm -- no matter who ends up collecting the gas tax, the amount collected will go up.



Wait for it -- yep, there you go. That sound you just heard, that sudden, distant rumbling? That's the sound of a nation of drivers recoiling in horror.