As gas prices rise, gas tax revenues fall
The high price of gasoline isn't just putting a dent in consumers' pocketbooks -- it could also lead to some belt-tightening at the state Department of Transportation.
Americans drove nearly 10 billion miles fewer this May than last May, a decrease largely being attributed to high gas prices. And fewer miles on the road means less gas tax revenue is making its way to the federal Highway Trust Fund -- a funding source that helps pay for road and bridge construction and road repair projects of all sizes across the country.
MPR's Cathy Wurzer talked with Kevin Gray, chief financial officer for the Minnesota Department of Transportation.
- Morning Edition, 07/30/2008, 8:40 a.m.