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The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
By 1929, all existing 48 states had enacted some sort of gas tax. [28] Today, fuel taxes in the United States vary by state. The United States federal excise tax on gasoline is 18.4 cents per US gallon (4.9 ¢/L) and 24.4 cents per US gallon (6.4 ¢/L) for diesel fuel. On average, as of July 2016, state and local taxes add 29.78 cents to ...
The Highway Trust Fund is a transportation fund in the United States which receives money from a federal fuel tax of 18.4 cents per gallon on gasoline and 24.4 cents per gallon of diesel fuel and related excise taxes. [2]
The U.S. Energy Information Administration (EIA) released data that show the average American household spent $2,912 on gas last year, just under 4% of income before taxes. Except for in 2008 ...
As the summer driving season approaches, gas prices are back approaching their recent highs of February, and averaging $3.66 a gallon across the U.S. But who's to blame? Is it the oil companies?
Gasoline is a commodity, meaning its price is largely driven by supply and demand. But the final amount you pay at the pump is never simply a function of those two variables in your area. In fact ...
The first federal budget was about $4.6 million, and the population in the 1790 U.S. Census was about four million, so the average federal tax was about $1/person per year. At that time, tradespeople earned about $0.25 a day for a 10- to 12-hour day so that federal taxes could be paid with about four days of work.
In 2024, inflation has hit the U.S. and the global economy with a vengeance. From the perspective of the American consumer, the skyrocketing cost of gas has likely been the clearest indication of...