Congress Considers Extending The Gasoline Tax
NORTH TEXAS (CBSDFW.COM) – The Texas Department of Transportation (TxDOT) is preparing for a bumpy ride as Congress considers extending the gas tax.
The federal gas tax is one of the main funding sources for all those TxDOT road construction projects underway in North Texas. The current tax expires September 30.
Given the current temperament in Washington there is some concern the funding won’t be extended.
“TxDOT has the ability to be able to issue short-term debt to be able to cover a short-term gap,” said TxDOT spokesperson Cynthia White.
And before you think the price of gas will drop, if the tax isn’t extended, think again. White says it’s more likely the price will stay the same, oil companies will pocket the money and local road construction projects won’t be funded.
In fact, White says some lawmakers want to rethink the gas tax and replace it with something else. “Vehicle miles traveled, for instance, is something that’s been discussed. The big issue is how they’re going to fund transportation, ongoing, into the future, for the long-term.”
The gas tax, currently at 18.4 cents per gallon of gas and just over 24-cents per gallon of diesel, hasn’t changed since 1993.