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Fuel-Efficient Car Owners: Beware this Proposed Tax

Owners of fuel-efficient cars in Oregon could soon face a new tax.

Under a proposal being considered by the state Department of Transportation, the tax would be based on miles driven.

It's designed to make up for the lower gas tax tab for drivers of hybrids and other fuel-efficient vehicles.

Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared Wednesday on FOX Business Network's "Varney & Co." to talk about the proposal.

"I personally don't like it, considering I drive two fuel-efficient cars in the family – a turbo diesel and a Prius – and I think that they (government officials) want their pound of flesh no matter which way they're going to get it to compensate for decades of bad fiscal policy," Fitz-Gerald said.

So is this tax a real possibility? How would the state even keep tabs on mileage?

Watch the accompanying video to hear if this proposed tax could make it to your neighborhood.

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