The Gas Tax Impact

Energy Innovation is out with a new research note today, focusing on the effects of the U.S. Chamber of Commerce's proposed gas tax increase. The research found by 2050, a $0.25 gas tax increase would generate $840 billion in revenue and would cost U.S. drivers $30 billion per year by 2022, with yearly costs decreasing over time. The tax increase would also reduce annual fuel consumption by 40-45 million barrels, according to the research, and cut total fuel use by more than 1.3 billion barrels. What do you think about this?