I’m a big believer in federalism, both as a matter of policy and politics.
But when you’re trying to convince politicians to give up power and money, it takes a lot repetition. So, to paraphrase what Ronald Reagan said to Jimmy Carter, here we go again.
I want to emphasize one part of the interview. I’m agnostic on the issue of whether America as a whole needs more infrastructure spending, but I’m sure some parts of the nation could use more roads.
But that doesn’t mean that Washington should be in charge of that spending.
My colleague at Cato, Chris Edwards, is an expert on these issues. Here’s what he recently wrote about the various schemes in DC to fund more transportation spending with higher taxes.
HTF spending on highways and urban transit adds up to $53 billion a year, while the HTF rakes in $39 billion in revenues, mainly from the federal gasoline tax. That leaves a gap of $14 billion. President Obama wants to fill the gap with corporate tax revenues, but that bad idea is dead on arrival in Congress. Senator Bob Corker (R., Tenn.) has a different idea. His bill, co-sponsored by Senator Chris Murphy (D., Conn.), would hike the federal gas tax by 12 cents per gallon. …Corker’s position is the opposite of conservative. If Tennessee needs more money for roads, it can raise its own gas tax any time it wants.
And here are some of the numbers that Chris put together showing that highway spending has been rising rather than falling.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
In Other News: List of "Useless Government Spending" Strangely Doesn't Include Biden's Salary | Michael Schaus
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 20th, 2014 | John Ransom