Bill to Fund Transportation Introduced in House

first_img SHARE Battle Resistance With the Soy Checkoff ‘Take Action’ Program By Gary Truitt – Jul 10, 2015 Facebook Twitter Live Cattle LEM21 (JUN 21) 118.70 1.13 Facebook Twitter How Indiana Crops are Faring Versus Other States Minor Changes in June WASDE Report Previous articleHoosier Included in FFA 2015 New Century FarmersNext articleWill USDA Cut Yields in Friday Report? Gary Truitt RELATED ARTICLESMORE FROM AUTHOR Bill to Fund Transportation Introduced in House South Carolina Republican Representative Tom Rice has introduced a bill in the House that would increase the federal gas tax by 10 cents-per-gallon. The increase would help pay for transportation projects across the nation, according to The Hill. The measure would offset the gas tax increase with a $133 income tax credit that would be offered to drivers to minimize the impact of higher prices at the pump. Rice said of the bill that it moves money from the general fund into the Highway Trust Fund. It would raise the gas tax by about 10 cents-per-gallon, which would cost the average driver about $130 per year. Congress has been grappling since 2005 with a transportation funding shortfall.The 18.4 cent-per-gallon federal gas tax has been the main source of transportation funding for decades, but it has not been increased since 1993, and The Hill reports more fuel-efficient cars have sapped its buying power. Soybean ZSN21 (JUL 21) 1508.50 -35.50 Wheat ZWN21 (JUL 21) 680.75 -3.00 Home Indiana Agriculture News Bill to Fund Transportation Introduced in House Corn ZCN21 (JUL 21) 684.50 -14.50 Lean Hogs HEM21 (JUN 21) 122.68 0.22 Name Sym Last Change Feeder Cattle GFQ21 (AUG 21) 151.18 2.78 All quotes are delayed snapshots SHARE STAY CONNECTED5,545FansLike3,961FollowersFollow187SubscribersSubscribelast_img