Interesting observations from USA Today on the declining real value of the gasoline tax:
Holiday drivers will pay less than ever at the pump for upkeep of the nation’s roads — just $19 in gas taxes for every 1,000 miles driven, a USA TODAY analysis finds. That’s a new low in inflation-adjusted dollars, half what drivers paid in 1975.
Yglesias prefers raising gas taxes in order to reduce congestion and pollution.
Regardless of how you feel about this, I do think our policy debates would be better if these types of real versus nominal changes were more widely discussed and understood.