What is a federal gas tax?

Federal gas tax is one of several taxes applied to the sale of gas and diesel at the pump. The income generated by the tax is generally directed back to the Federal or National Government to fund interstate highway repairs and other expenses. States, regions and other local entities can also collect gas consumption tax. It is important to note that the total price for a gallon of gas includes, but is not limited to wholesale oil costs, federal and state taxes, costs and profits, plus distribution and marketing. Therefore, the total retail price of a gallon of gas reflects the aggregation of all basic costs. Like many presidents, Herbert Hoover wanted to equalize the federal budget, but in 1932 he faced the consequences of a market accident and an early suffering of a ten -year economic disaster. Trying to strengthen the federal, Congress went through and signed by President Hoover, the 1932 income law. Included in legislation, among many other new taxes, was the first US federal gas that wasset at $ 0.01 US dollar (USD) per gallon.

Originally, the federal tax on the United States gas was to be temporary, but in the following years it was extended until it was permanent - and increased to $ 0.015 per gallon - the 1941 income Act. The tax reached a rate of $ 0.184 for the Gallon in 1993 through the 1993 President Act, signed by President Bill Clinton.

Revenue from federal gas tax tax was used through various channels. It is often used to reduce the deficiency and, above all, to increase the trust fund on the United States.

the position of the wheelsIt was over the federal gas tax. In 2009, in response to an increase in oil prices, some countries such as Brazil reduced gas tax to maintain retail prices. On the other hand, in the United States, there was a challenge to increase federal gas tax to complement the shrinking trust fund on the United States motorway.