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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (856800)5/17/2015 9:18:30 AM
From: TimF  Read Replies (1) of 1573887
 
For more than 50 years after Congress created the Highway Trust Fund in 1956 it was able to avoid a shortage of funds by a simple measure: it didn’t spend more than was collected in gas taxes. That changed in 2008, when tax revenues declined due to the financial crisis but Congress continued to spend as if the revenues were growing.

Since 2008, Congress has had to replenish the trust fund with $55 billion in general funds. This isn’t, however, a subsidy to highways; in the last decade, Congress has diverted well over $55 billion of gas taxes to non-highway projects.

http://www.cato.org/publications/commentary/five-reasons-not-raise-gas-tax
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