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Source: Getty
The enactment of an oil security tax, based on the price of oil and paid by oil companies, coupled with a consumer gas tax could help maintain America’s struggling infrastructure and support the country’s global competitiveness.
Source: New York Times
We suggest the enactment of an oil security tax, a fixed percentage based on the price of a barrel of oil and paid by oil companies for every barrel produced in or imported into the United States.
The consumer gas tax would increase when oil prices fall and consumers get relief at the pump, and the tax would be reduced when oil prices rise. This “countercycle” plan will raise the money needed to build America’s future while spreading the cost more equitably across both fuel producers and fuel consumers.
Since oil companies benefit from our transportation system, which consumes 70 percent of oil products, this is both reasonable and fair. Simply letting America’s vital infrastructure decay is not.
Bill Bradley
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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