Over the period of 2001 to 2010, the total federal budget surplus is now expected to reach a staggering $4.2 trillion, with the non-Social Security portion of the surplus accounting for $1.9 trillion.  Yet, federal officials are queasy about cutting or eliminating the 18.4-cents-per-gallon gas tax and the 24.4 cents diesel tax.

In fact, federal lawmakers don't want to even consider a permanent cut in fuel taxes, but instead are only mulling a temporary suspension. 

Taxes on fuel impact every family and business in America.  Whether prices at the pump happen to be high or low, federal fuel taxes should be eliminated altogether. 

Politicians don't like this idea because most of the revenues from federal fuel taxes go for pet road projects back home, i.e., pork.  But highways and roads should be left to states and localities, and federal taxes on gas and diesel fuel should be terminated.

Raymond J. Keating
Chief Economist
Small Business Survival Committee and co-author of U.S. by the Numbers:
Figuring What's Left, Right, and Wrong with America State by State