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.
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.