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Chris Vance on Technology

 

 


National Infrastructure Bank to build roads and bridges

As cars have become more efficient the gas tax has declined as a source of revenue. The federal gas tax (18.4 cents per gallon) has not been raised since 1993. The gas tax is insufficient to fund needed projects. New projects and maintenance have been neglected while Congress has stolen money from the general fund--making our debt worse--just to keep the highway program from shutting down.

We can raise the gas tax to fix this problem, and that would be better than doing nothing. But I think a better idea is to create a national infrastructure bank. An infrastructure bank would combine our gas tax revenue with private sector funding to build roads and bridges, and other forms of infrastructure, which would then provide a return, such as tolls, to the private sector investor.

This idea has been promoted by Democrats like Senator John Kerry, and Republicans like Senator Kay Bailey Hutchinson. It is an idea whose time has come!

Source: 2016 Senate campaign website, ChrisVanceForSenate.com , Oct 9, 2015

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