Of By For the People - Gasoline Tax

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Date10/11/2019 4:02:19 PM
Taxes on gasoline and diesel have funded the Highway Trust Fund since its inception in 1956. However, the
Highway Trust Fund became insolvent in 2008 and the shortfalls have been funded with transfers from the Treasury.
Any deficit in revenue versus spending is made up of the general revenue streams of the federal government which reduces
the money available for other ‘discretionary’ programs. Bottom line, we still pay for the Highway Trust Fund programs,
it is just a matter of which pocket we pull the money from. The American Society of Civil Engineers project that the shortfall in funding
versus needs for Surface Transportation infrastructure alone will be over $800 billion by 2020
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