Top Republican Sen. John Thune open to gas tax increase

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NEW YORK — The last time the federal gas tax was increased, the price at the pump was $1.09.

That was 1993. Twenty years later, lawmakers are considering an increase.

The incoming Republican leader of the Senate Transportation Committee said Sunday an increase is up for consideration, as “we have to look at all the options.”

“I don’t think we take anything off the table at this point,” John Thune said on “Fox News Sunday.”

Prices at the pump are at the lowest point in years — the nationwide average has tumbled more than a dollar in the last year, reaching $2.20 on Monday.

That’s given drivers significant relief at the same time as the federal highway fund continues to face huge shortages. Thune said the fund is looking at “about a $100 billion shortfall.”

On top of that, the law behind the fund is set to expire in May.

And the nation’s infrastructure is in dire need of repair. The American Society of Civil Engineers rated the country’s roads and bridges a D plus.

Some of his colleagues, led by Republican Sen. Bob Corker and Democratic Sen. Chris Murphy, have proposed an increase of 12 cents per gallon over the next two years, then linking increases to inflation.

Business leaders, including the Chamber of Commerce, have also called for an increase.

The feds currently collect 18.4 cents in tax per gallon of gasoline. While gas prices, the cost of highway repairs and inflation have climbed, the gas tax

When varying state taxes are factored in, the price of gas at the pump includes 23.47 cents in taxes, according to an estimate from the U.S. Energy Information Administration.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.