We're pretty sure that the total excise tax, State and Federal, is 58 cents per gallon in Illinois. If we're off a few cents, it's only because on the incredible obfuscation on this issue. The dirty little secret over the past year or so is that sales taxes on the increased prices at the pump have been a huge windfall for State, County, and Municipal governments.
Yesterday, Judy Barr Topinka said she'd like to "freeze" State sales tax when the pump price is $2.50 per gallon or higher. The tax would be collected on $2.50 even if the actual price was $4.00
Aside from the retailers' nightmare of tracking a change like this, it sounds like a good start to us. Now to get the feds on board. If the sales and excise tax on fuel isn't going to be dedicated exclusively to road building and maintenance, then we've prefer getting rid of them entirely. They shouldn't be used as windfalls for the "general funds". How's that for a "windfall profits tax"?
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