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A 2017 study in the Journal of Public Economics found that "a VMT tax designed to increase highway spending $55 billion per year increases annual welfare by $10.5 billion or nearly 20% more than a gasoline tax does because: (1) the differentiated VMT tax is better than the gasoline tax at targeting its tax to and affecting the behavior of those ...
Overall inflation in California remains 7.3% lower than the United States average since January 2020, largely due to lower housing inflation. Rent costs nationwide grew 25.9%, compared to 20.3% ...
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).
Prices inflation adjusted to 2008 dollars. In 2002, a committee of the National Academy of Sciences wrote a report on the effects of the CAFE standard. [2] The report's conclusions include a finding that in the absence of CAFE, and with no other fuel economy regulation substituted, motor vehicle fuel consumption would have been approximately 14 percent higher than it actually was in 2002.
To help California residents battle inflation, the state started sending Middle-Class Tax Refund (MCTR) payments early October. However, some residents are still waiting for the one-time payments ...
Gasoline prices have long been the highest in the country, and remain so. The price of a gallon of regular gasoline Tuesday in California averaged $4.59, well above the nation’s $3.18, according ...
Between high purchase prices and even higher interest rates, drivers are keeping their cars for longer periods — the average age of private passenger cars on the road in 2023 is 13.6 years old ...
The average price of regular gasoline rose from $1.773 during the week of April 27, 2020, to $5 as of June 11, 2022, an all-time high. [37] California led the nation in gas prices with an average gallon of regular gas in the state reaching $6.43 as of June 11, 2022. [38]