Possible Tax Hike Could Increase Gas Prices By 40 Cents
theindychannel.com ^ | 06/03/09 | Rick Hightower
Posted on Wednesday, June 03, 2009 10:28:56 AM by Abathar
INDIANAPOLIS -- Gas prices, already on the rise, could jump significantly if Congress approves a large tax increase to help pay for the Federal Gasoline Tax Fund.
The increase could be as much as 40 cents a gallon. In exchange for the big increase, motorists would have a better chance of driving on better maintained state or federal highways, 6News' Rick Hightower reported.
Prices shot above $2.75 a gallon in central Indiana Tuesday. The last thing drivers wanted to hear was that a gas tax increase could send the price much higher, from the current 18 cents a gallon to 58 cents.
"With the way the economy is right now, to raise taxes again … is going to set things back to where it was before," said driver Craig Lewandowski. "The fact that gas prices went down helped out a lot of people."
"I don't like the prices now. I'm a college student. I have no money anyway," said Kara Prewitt. "Gas prices going up is never a good thing."
The fund that pays for highway construction would go broke in August unless Congress infuses about $7 billion needed to keep current projects going.
(Excerpt) Read more at theindychannel.com
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Change I still dont believe in.