Is Federal Gas Tax A Trick?

Some Senators have spoken out on the Federal Gas Tax. Comments from (Ohio-D) Senator Sherrod Brown, as reported by Cybercast News Service, indicate the probability of presidential hopeful Senator John McCain’s involvement to avoid disclosure of his involvement to the oil industry. Senator Brown’s primary concern is the probability of more U.S. job loss. Senator Patty Murray (D-Washington), agrees with the views of Sen. Brown stating the removal of a gas tax would only result in lay offs of construction workers and halt construction of future projects. Senator Joe Lieberman (I-Conn.) and Senator Ted Stevens (R-Alaska) both support the Federal Gas Tax. Several other Senators declined comment. On June 23, 2008, the Internal Revenue Service announced an increase by .08 cents per mile to the current standard mileage reimbursement rate of 58.5 cents per mile. The rate went into effect on July 1, 2008, and remains in effect through the end of this year. This is good news for employees reimbursed by their employer for using their own vehicle to performing their job. The IRS also increased the mileage for deductible medical and moving expenses by .08 cents per mile, bringing the total to .27 cents. Not to be confused with mileage for providing charitable services as this rate is set by Congress and remains the same, .14 cents per mile. The Energy Department offers some suggestions for saving money overall by simply adjusting aggressive driving habits, avoiding letting your vehicle idle, use cruise control when ever possible, and only use air conditioning when necessary and avoid unnecessary trips during the week. If you can wait until the end of the week and make one trip, you’ll save more “cents” than you know.