Finally consumers are getting a break with lower prices at the pump. As it stands federal gas tax revenues have risen 6.1% per year since 1982. Let consumers keep more of what they make and not give it to a wasteful government. My friend Chris Edwards from Cato explains:
Gas tax supporters say that it is time to raise the tax because it has not been raised in two decades. What they leave out of the story is that the gas tax rate more than quadrupled between 1982 and 1994 from 4 cents per gallon to 18.4 cents, as shown in the chart below the jump. Thus, looking at the whole period since 1982, federal gas tax revenues have risen at a robust annual average rate of 6.1 percent (based on Tax Foundation data). So, again, we have a spending crisis, not a funding crisis.
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