We are feeling the pain at the pump. According to AAA, the national average price of gas is $3.498. It was just $2.507 a year ago. And the price of gas isn’t the only thing that’s going up. Americans are feeling the impact of record inflation, which is reportedly costing the average household an additional…
If you’re planning a trip this holiday week, don’t forget to figure in the cost of gasoline. Drivers in some states will feel a pinch in their wallets as gas taxes increase beginning today. The largest jump will be felt in Illinois where the state gas tax will double to 38 cents per gallon (up from 19…
The Cowboys are making their way towards the Super Bowl. Garth Brooks is on tour. The World Health Organization is warning of a global health scare with origins in Africa. Police officers are accused of violating the civil rights of an unarmed African American man. And there’s serious talk in Congress about raising the federal…
It’s time for guest posts! Today, Charles W. Horn III of the Commonwealth Trust Company, considers how to pay for all of those cars on the roadways. Should it be more taxes?
If those giant potholes and crumbling bridges are causing you concern, you’re in good company: a recent survey commissioned by AAA found that just over two-thirds (68%) of Americans believe that the federal government should be spending more on roads, bridges, and mass transit systems. Only five percent of those surveyed thought that the federal…
According to the U.S. Department of Transportation, Federal Highway Administration, a pothole is “a bowl-shaped depression in the pavement surface.” Those aren’t exactly the words that drivers where I live are using to describe them. Those words, I can’t post. After one of the snowiest, coldest winters on record in parts of the country, it’s…
It could be a whole lot more expensive to drive your car in 2014 if one member of Congress successfully pushes through a proposal to raise the gas tax by 15 cents. But how much support does the bill have? You might be surprised.
Happy birthday, federal gas tax! Yes, on this day in 1932, President Herbert Hoover signed the Revenue Act of 1932 authorizing the first federal gasoline tax. It was the first gas tax on a federal level but not the first gas tax in the country: all of the states at the time had their own…
Former GM exec Bob Lutz acknowledged that Americans wouldn’t embrace an increase to the federal gas tax – and he was right. There was a lot of reaction to my piece yesterday on Lutz’s recommendation that the federal gas tax be raised in 25 cent increments until gas prices reached $6 or $7 per gallon…
Americans are addicted to gasoline, according to retired General Motors Vice Chairman Robert A. Lutz, and there’s only one cure: higher gas taxes. Lutz, who held positions at GM, BMW, Ford, and Chrysler before returning to GM in 2001 spoke to a crowd earlier this month at the SAE (Society of Automobile Engineers) 2013 World…