A Republican and a Democrat in the U.S. Senate are urging a federal commission to recommend a 25-cent increase to gas and diesel taxes in a report to President Obama next month. Sens. George Voinovich, R-OH, and Tom Carper, D-DE, say the money should go to fund infrastructure and to pay down federal deficits.
The senators stated two reasons for their proposal in a letter to the National Commission on Fiscal Responsibility and Reform, a bipartisan presidential commission consisting of current and former lawmakers and policy advisors. The commission is scheduled to release its report in December.
“First, the Highway Trust Fund’s revenue stream is insufficient for current outlays,” the senators wrote. “Second, the existing level of transportation investment is inadequate to maintain our infrastructure and provide for 21st-century improvements.”
Carper and Voinovich said 15 cents of the increase would go directly to the Highway Trust Fund, while 10 cents would be used to pay down federal deficits at first. After enough debt is paid off, the 10-cent portion would be put into the highways account.
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The senators stated two reasons for their proposal in a letter to the National Commission on Fiscal Responsibility and Reform, a bipartisan presidential commission consisting of current and former lawmakers and policy advisors. The commission is scheduled to release its report in December.
“First, the Highway Trust Fund’s revenue stream is insufficient for current outlays,” the senators wrote. “Second, the existing level of transportation investment is inadequate to maintain our infrastructure and provide for 21st-century improvements.”
Carper and Voinovich said 15 cents of the increase would go directly to the Highway Trust Fund, while 10 cents would be used to pay down federal deficits at first. After enough debt is paid off, the 10-cent portion would be put into the highways account.
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