Allow me to throw in my “two cents” regarding the Virginia State Senate’s vote to “raise our gasoline tax by a penny per gallon in each of the next five years”.
The Daily News Record provides this information about the vote and comments from some of the Senators.
“According to an analysis of the bill performed by the legislative staff, the proposal would increase the state gas tax from 17.5 cents per gallon to 22.5 cents per gallon, an increase of 28.6 percent, and raise an estimated $1 billion over five years“.
That is one hefty increase in the tax burden being imposed on the citizens of Virginia over the next five years. After listening to the never ending finger pointing to the “Evil Oil Companies” by Hillary & friends blaming them for high fuel costs, many are quick to blame the oil companies.
As noted in this earlier RightsideVA post, "From 1977 to 2004, according to Tax Foundation data, U.S. oil companies cleared $630 billion after taxes while paying $518 billion in federal and state corporate taxes at an average rate of 45%“.
45% tax rate to the U.S. oil companies. Now that’s a little stiff in itself and the fact that Hillary & friends fail to mention is that the incorporated 45% tax on the oil companies is passed onto consumers like you and me…
Wait. That’s not all. “ Over the same period, an additional $1.34 trillion in excise fuel taxes was collected from consumers by the oil companies and turned over to various governments“.
Republican State Senator Obenshain pointed out the likely ugly future of this additional tax increase. “The revenues realized from the tax increase, Obenshain said, are unlikely to go for transportation needs. Instead, he said, the revenues would likely go to support new pet spending projects“.
And its not just the local government looking to take some more out of your pocket for their use. “The proposal to increase the state gasoline tax, Obenshain noted, comes after the National Surface Transportation Policy and Revenue Study Commission proposed Congress triple the federal gasoline tax from 18.4 cents per gallon to nearly 60 cents per gallon over five years“.
It is obvious that our infrastructure needs work and that is fine and should be done. The American taxpayer already pays a hefty amount to finance these projects and maintain our roads. The problem is pointed out by Senator Obenshain in his remarks about the probably end result of our additional tax money once making it to Richmond. We need to support strong Conservative Republicans like Senator Obenshain in their efforts to ensure proper use of our tax money instead of it being used for "Pet Projects"...