gas tax hike, falling oil prices

Falling oil prices could lead to a gas tax hike in the USA if some elected officials have anything to say about it. Right now Americans are enjoying prices at the pump that are the lowest seen in half a decade and some see it as an opportunity to raise some revenue and fix the crumbling US infrastructure. It is undisputed that the roads and bridges in many areas of America need to be repaired, and a gas tax hike could help do this as long as prices stay low. Few people want to see new taxes though, especially at a time when many Americans are still struggling financially. The tax on fuels has been flat for the last 2 decades, while the infrastructure of the country has aged and is starting to show wear and damage.

Some who discuss a proposed gas tax hike as a result of falling oil prices do not see things the same way as many politicians though. Lower oil prices are providing a much needed break for American consumers who are faced with rising costs in many other areas. Food prices continue to go up, healthcare costs and insurance premiums have spiraled out of control, and people are feeling pinched of every penny right now. Raising taxes in any form may not sit well with the voters that the politicians depend on to keep their jobs. Another concern voiced is what happens if oil prices go back up? Will any gas tax enacted be eliminated if this happens?