Carper's fuel bill would finance more infrastructure
The Tax Relief and Fix The Trust Fund For Infrastructure Certainty Relief Act would raise the national gasoline and diesel taxes, and that money could be used to offset the rising cost for infrastructure improvements.
“Rather than lurching from crisis to crisis, increasing the country’s debt, and borrowing more money from foreign governments to pay for our transportation system, I say it’s time to do what’s right,” Carper, who is the second-ranking Democrat on the Senate Environment & Public Works Committee, said.
The bill would raise the federal user fee on gasoline by 4 cents over each of the next four years – a 16 cents-per-gallon increase by 2020. In addition to state taxes, the annual hikes would result in American drivers paying 34 cents for every gallon of unleaded gas pumped into their vehicles by the start of the next decade.
Carper’s office estimates this new revenue stream would generate at least $220 billion in additional funding for the federal Highway Trust Fund over the next decade, enough to cover baseline infrastructure requirements and support $10 billion in additional spending each year and maintain the fund’s solvency for the foreseeable future.