Fun Fact: Revenue Act of 1932

6/6/2018

June 6, 1932 : The first federal gasoline tax ( All US States had a gas tax prior to this starting with Oregon in 1919 ) was created with the enactment of the Revenue Act of 1932 with a tax of 1 cent/gal.

Fast forward to today we pay 18.40 cents/gal for gasoline and 24.40 cents/gal for diesel. Rumor has it that our current President is backing a plan to increase the Federal tax by 35 cents/gal and dedicate those funds to fund his infrastructure plans (building "The Wall").

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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

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Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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