Raising Gas Tax for Inflation Would Have Netted Millions
The Washington Times › December 14, 2011
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Summary
An analysis by a nonprofit tax-policy institute says that Maryland and Virginia could have collected hundreds of millions of dollars per year since their last gas-tax increases if they had raised the tax regularly to account for inflation.
The states, both of which are desperately trying to cobble together more money for transportation, had among the highest totals in the nation of unimposed gas-tax dollars, according to the D.C.- based Institute on Taxation and Economic Policy.See the full content of this document
Extract
Raising Gas Tax for Inflation Would Have Netted Millions
Maryland's gas tax of 23.5 cents per gallon, in place since 1992, could have generated an additional $421 million per year in the past two decades if it had been tied to inflation, the analysis concluded.
V...See the full content of this document
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