The Federal Gas Tax
Back when Roscoe Bartlett was born, not a single politician with Presidential aspirations ever talked about enacting a gas tax holiday. You see, back then, there was no federal gas tax. In fact, it wasn't until the Revenue Act of 1932 was enacted that the federal government levied a tax of one penny on a gallon of gasoline. Of course, in those days, a gallon of gas only cost 15 cents! Today's federal tax of 18.4 cents is actually less, as a percentage of the total cost of gas, than it was in 1932.
By the way, you might like to know where that tax is spent. The tax goes into the federal Highway Trust Fund, which is already more than $3 Billion in the red. The Department of Transportation says that every $1 billion in highway spending creates 34,779 jobs. But who needs jobs when we can cut taxes and increase the deficit?
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