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    Construction NewsBRIEFS! 10-5-2012

    The method used to calculate the ideal amount of money that should be retained in the unemployment compensation trust fund will change beginning with the 2013 calendar year, under Public Act 12-46, effective Oct. 1, 2012. The new law changes the goal to an average high cost multiple of 0.5, i.e., one half year's worth of average recessionary level unemployment benefits, then increases it by 0.1 per year until it reaches 1.0 (one year's worth of average recessionary level unemployment benefits) in 2018.

    The federal motor-fuels tax, at 18.4 cents for gasoline and 24.4 cents for diesel, hasn't changed since 1993. As a result, the tax buys about half the concrete, steel and other materials it did 20 years ago, according to “The Gas Tax Is Running Low. But What Should Replace It?”. A more comprehensive fix is needed and The Wall Street Journal analyzes some of the options, including a vehicle-miles-traveled tax, tolls, indexing the tax, and assessing oil instead of gasoline or a charge on vehicle registrations.

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