Saturday, August 18, 2007

The WSJ On Gas Taxes

The Wall Street Journal posted an article with some interesting facts about the gas tax. It's definitely worth a read in its entirety, but here are some of the key points:
  • The federal fuel tax in the U.S. is 18.4 cents per gallon. This has been unchanged since 1993.
  • The average fuel tax per gallon of gas (including state and federal taxes) is $0.47 in the U.S., $1 in Canada, $1.91 in Japan, and $4.54 in the United Kingdom. Think about that: Britons pay more in fuel taxes per gallon than Americans pay in total for a gallon of gas.
  • Fuel taxes make up just under 40% of the $145 billion spent on highways in the U.S. But, the U.S. Highway Account is expected to run regular deficits beginning in 2007, so more funding is needed.

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