The first U.S. state to levy a gasoline tax was Oregon, which enacted a 1-cent per gallon tax in February 1919. During the following decade every U.S. state and the District of Columbia followed suit. In 2006 the average state gas tax was 20.8 cents per gallon. The federal gasoline tax was created with the Revenue Act of 1932, and began as a temporary levy with a rate of 1 cent per gallon. Over the years the tax has increased significantly, and in 2006 stood at 18.4 cents per gallon. The combined burden of federal, state and local gas taxes costs American drivers an average of 45.9 cents on every gallon purchased in 2006.
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Idaho officials believe not enough businesses are looking at their state when deciding to expand or relocate. Unfortunately, the proposed solution (PDF) – a new jobs tax credit – is unlikely to be the fix.
One of the more compelling reasons to pursue tax reform is the fact that the U.S. has the highest corporate tax rate in the developed world. Another compelling reason is that U.S. multinational corporations (MNCs) must...