“If you think the USA would be better off with a higher unemployment rate, fewer small businesses and less money in family bank accounts, you should support big increases in federal taxes on gasoline and other motor fuels. Enacting sharply higher fuel taxes that would make it dramatically more expensive for people and goods to move around our nation would have the effect of imposing economic sanctions on ourselves. This amounts to a perfect recipe for a double-dip recession. … It makes sense for Congress to consider approving a small increase in the federal 18.4-cent-per-gallon gasoline tax — a handful of pennies per gallon — if the money raised would go to the Highway Trust Fund to maintain, improve and expand our nation’s road system. Using some of this money to fund mass transit, to further reduce gasoline consumption, is also worth considering. But piling on billions of dollars in new gasoline taxes on top of billions of dollars in growing subsidies for other forms of energy is unwise, unaffordable and harmful.”
The full text of Drevna’s op-ed is available online.