Concerned about the current account deficit?

Here's Matthew Yglesias on another good reason for a high gas tax (Link):

In my view the biggest source of drag on net exports that’s amenable to a clear policy fix is our unusually high per capita gasoline consumption. Higher gasoline taxes to finance increased transportation infrastructure spending could, especially if the spending was front-loaded, boost employment while helping the environment and laying the groundwork for a more dynamic future economy. China’s currency peg is another significant drag on net exports, but while it’s not clear to me which US policy steps (as opposed to Chinese policy steps—that’s easy) would address it effectively.

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