It has been a great holiday season. Perhaps one of the most pleasant turn of events has been the amazing drop in gasoline prices.
The American driving public has experienced a decrease of over $1 in the cost of a gallon of gasoline. This goes right into disposable income for the consumer. Economists of virtually every stripe, except for those in the Middle East, Russia and Venezuela, are viewing this as being very beneficial to the U.S. and world economies.
In light of this, it may very well be fortuitous for the U.S. Congress to consider an increase in the federal gasoline tax by 5 or 10 cents per gallon.
This money would flow directly into the Highway Trust Fund. This fund was established by Congress for the construction and maintenance of the U.S. highway system, which is currently in desperate need of repair and upgrading.
I am quite certain the vast majority of U.S. drivers would be willing to accommodate this increase, given the recent windfall they currently are enjoying. In addition, they will be direct beneficiaries of these expenditures.
Much better to keep the money here in the U.S. and repair our highway infrastructure, creating a very large number of jobs in the construction and related industries, than to have it go to OPEC and Vladimir Putin.
Frank W. Wright
Cape Neddick
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