Increase the gas tax

The federal tax on gasoline is 18.4 cents per gallon. This rate was set in 1993; in 2014 dollars the tax has dropped to 11.5 cents per gallon. These taxes go into the Highway Trust Fund, which now stands at $46 billion. That is less than the $50 billion we spend each year on surface transportation programs that support highways, public transportation, and intercity passenger rail. This trust fund has been hard hit by dramatic improvements in vehicle fuel efficiency and reduced driving; it looks as though the fund will be bust by August of this year. 

The Congressional Budget Office estimates that the Highway Trust Fund will require $15 billion in additional revenue in FY 2015 to remain solvent. It is time for Congress to increase the tax substantially or find a sustainable, long-term funding source to support federal transportation programs for decades to come.