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June 19, 2014

2 Senators proposing gas tax hike

  • It would require heavy lifting from Congress to pass before late August, when the Highway Trust Fund may go broke.
  • WASHINGTON (AP) — Two senators unveiled a bipartisan plan Wednesday to raise federal gasoline and diesel taxes for the first time in more than two decades, pitching the proposal as a solution to Congress' struggle to pay for highway and transit programs.

    The plan offered by Sens. Chris Murphy, D-Conn., and Bob Corker, R-Tenn., would raise the 18.4 cents-a-gallon federal gas tax and 24.4 cents-a-gallon diesel tax each by 12 cents over the next two years, and then index the taxes to keep pace with inflation. The increase would be applied in two increments of 6 cents each.


     
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