Vol. 27, No. 1
In a gesture that looks more like a political testament than a realistic budget proposal, the Obama Administration unveiled a $4.1 trillion plan to fund the federal government in Fiscal Year 2017. The budget includes a hefty $98.1 billion for transportation— a 60% increase over the current annual spending level. To partly pay for the new spending, the Administration is calling for a $10 per barrel tax on oil that would translate roughly into a 25 cent/gallon increase in the price of gasoline at the pump.
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