GASOLINE TAX THAT WAS USED TO REDUCE THE DEBT NOW GOES FOR HIGHWAYS -- AND IT'S NEEDED

Some lawmakers are proposing that a federal gasoline tax of 4.3 cents a gallon, dating back to 1993, be lifted temporarily as gas prices at service-station pumps continue to soar.

No doubt those filling up their tanks would appreciate the reduction, however small, in gasoline prices. Some experts predict the price could reach a record $2 a gallon by summer.

Since the revenue from the tax is earmarked for highways, losing of these dollars could have a long-term effect on America's roads.

That wasn't always the case. When the 4.3-cent tax was originally imposed in 1993, all the revenue went to general revenue and was used for deficit reduction. Al Gore was the tie-breaker in getting this vote through Congress. The increase raised the federal gas tax to 18.3 cents a gallon, where it stands today.

Use of gas-tax revenue balances in the Highway Trust Fund to offset deficit spending by the federal government started as early as the late 1960s.

In 1997, Congress dedicated revenue from the tax on highway users to the Highway Trust Fund. This makes sense. The gas tax should be applied to highways and infrastructure. In addition, Congress passed the Transportation Equity Act in 1998 that established a direct link between funds in the Highway Trust Fund and funding returned to states and cities for highways and transit.

This short-term gas tax relief appears to be outweighed by highway funding needs.