NATSO Applauds Proposal to Increase Federal Fuel Tax
NATSO, the national association representing truckstops and travel plazas, today applauded a proposal by Sens. Chris Murphy (D-Conn.) and Bob Corker (R-Tenn.) to raise the federal fuel tax and index it to inflation to keep the Highway Trust Fund solvent.
The Murphy-Corker proposal would raise the fuel tax 6 cents a year over two years, and index the tax to the Consumer Price Index.
“We commend Senators Chris Murphy and Bob Corker for introducing legislation that will increase money for infrastructure through the most fair and efficient means possible,” said NATSO President and CEO Lisa Mullings. “Raising the fuel tax is long overdue, and this is the right solution for both motorists and businesses.”
NATSO has long held that raising the fuel tax is the best option for generating critical transportation revenues.
The Highway Trust Fund currently is funded by an 18 cents-a-gallon tax on gasoline and a 24 cents-a-gallon tax on diesel. The federal fuel tax was last increased in 1993. Over the past two decades, inflation has eroded the buying power of the 18.4 cents federal fuel tax to just 11 cents.