Going Electric: How the Adoption of EV’s Will Effect Funding for Road Construction
Introduction Since the revenue act of 1932, the US federal government has used taxes placed on gasoline to pay for the development and maintenance of roads in the US. Since then, states have also adopted their various forms of taxation, which pay for the infrastructure cost of maintaining our highways. As technology and efficiency continue to advance, the use of fossil fuels in our vehicles will decrease as a result. How will we compensate for this loss of funding moving forward, ensuring that our infrastructure is well maintained? Gas Tax: How it Works Here's a basic breakdown of how a [...]