12-Cent Gas-Tax Hike would Save the Highway Trust Fund

Sens. Chris Murphy (D-Conn.) and Bob Corker (R-Tenn.) suggested on Wednesday increasing the gas tax by six cents in each of the next two years and indexing it to inflation in future years to raise $164 billion over the next decade to help pay for transportation projects. 

The lawmakers said amount would be enough to cover the $16 billion per year shortfall in the Department of Transportation’s Highway Trust Fund. 

Advocates for increasing tolling to help fund transportation projects cheered the Corker-Murphy proposal, calling it “gutsy” to propose increasing the taxes that are paid by drivers in an election year.

Meanwhile, conservative groups made clear that they are opposed to any kind of gas tax increase.

(more on proposed fuel-tax increase to fund transportation construction . . . )