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FEES & TAXES * USA - DeFazio has a better idea
... Instead of more taxes at the pump, we should be taxing oil speculators!
Detroit,MICH,USA -The Detroit Trucking Examiner, by Linda Sunkle-Pierucki -June 26, 2009: ... The Highway Trust Fund need its usual six-year authorization for funding in the near future. Everybody agrees there has to be a better way to fund transportation improvements and repairs but nobody knows how it should be done... Part of the problem is that economic conditions have limited the money coming into the fund that keep it solvent. Part of the trust fund shortfall is due to decreased miles traveled and less fuel consumption... Truckers and the American Trucking Association fully expect to have to pay more fuel tax just to get critical repairs completed... Rep Pete DeFazio, D-OR proposed a method of funding the shortfall that we can only hope gets some play in Congress: His idea is that, instead of more taxes at the pump, we should be taxing oil speculators! ... DeFazio suggests imposing a 0.02% tax on all oil futures contracts. Two cents per hundred dollars sounds like a pittance but many of these contracts total into the billions of dollars... (AP Photo/Charles Krupa)Labels: fees and taxes
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