High gas prices are good news for highways in some states

06/9/2008 | Google

Rising oil prices could produce billion-dollar windfalls in states where gas taxes are tied to the price at the pump. In about a dozen states, including California, Illinois and Michigan, taxes go up automatically as prices increase, and that means big increases in tax collections -- as much as $5 billion in California this year. On the other hand, about three dozen states have a flat tax on gasoline, and those states are expected to see a drop in revenues as shell-shocked drivers cut back on their mileage.

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