The bill was first proposed by Earl Blumenauer (D-Oregon) and was referenced in a recent House Ways and Means Committee meeting on transportation funding.
“Our country’s transportation funding is running on empty. It’s time to fuel up the economy by making sustainable investments in our roads, bridges, highways and transit systems. Without predictable federal transportation investments, we slam the brakes on creating jobs and growing our economy,” Larsen said. “Raising the gas tax for the first time in more than 20 years will mean states and cities can count on funds to upgrade aging bridges, make rail crossings safer and expand transit options to reduce traffic congestion.”
The UPDATE Act (Update, Promote, and Develop America’s Transportation Essentials Act of 2015) would increase the tax on gasoline to 26.3 cents per gallon in 2016 (from the current 18.4 cents), 30.3 cents per gallon in 2017, and 33.3 cents per gallon after 2017 and before 2028.
The diesel fuel and kerosene tax would rise to 32.3 cents per gallon in 2016, 36.3 cents in 2017, and 39.3 cents after 2017 and before 2027.
