Gas Taxes are Broken, But How Do You Fix Them?

Imagine if you had to pay 2015 prices with 1997 dollars. Unfortunately, that’s the exact situation that we’re in with gas taxes. Between inflation and increased fuel efficiency, they just don’t buy what they used to, a situation that’s been a boon (yay de facto tax cuts) and bane (boo decreased road maintenance). It’s obvious that a fixed per-gallon excise tax on fuel isn’t a stable way to fund roads proportional to usage. What’s less obvious is what can be done about it. One of the more intriguing proposals on…