You shook me all night long
Highway finance comes from two main sources: cities and states, and the federal Highway Trust Fund (HTF). The HTF spends $46 billion a year and is funded by a tax of 18.4 cents on each gallon of petrol. But revenues are declining: the young drive a bit less and cars burn fuel more efficiently. Since American voters hate energy taxes, the petrol tax has not increased since 1993 and its purchasing power has declined. Adjusted for inflation, it is now worth only 11.5 cents. Had it been indexed to inflation 20 years ago (says the Centre for American Progress, a leftish think-tank), it would now be 29 cents a gallon.