Feeral Bill Would Index Gas, Diesel Taxes to Inflation
From the Pennsylvania Petroleum Association
Rep. Jim Renacci (D-OH) announced the introduction of legislation that would index the federal gas and diesel tax to inflation. Additionally the “Bridge to Sustainable Infrastructure Act” would establish a bipartisan, bicameral transportation commission to develop a long-term funding mechanism by 2016.
Current Highway Trust Fund authorization expires on May 31 which is expected to reach insolvency this summer. Renacci and bill cosponsors Reid Ribble (R-WI), Bill Pascrell (D-NJ) and Dan Lipinski (D-IL) wrote the Act such that if Congress does not implement a long-term funding solution, the gas and diesel tax would increase to meet the next five-year HTF shortfall.
