Implications of electric vehicle penetration on federal and state highway revenues.
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2017-02-01
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Alternative Title:Final research project report : EVTC project 1 - implications of electric vehicle penetration on state and federal highway revenues;Implications of electric vehicle penetration on state and federal highway revenues.;
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Abstract:This report summarizes the results of research conducted to determine if current and
near future electric vehicle (EV) sales will have an impact on motor fuel tax revenues as
part of the Federal Highway Trust Fund (HTF). Gasoline and diesel fuel taxes account
for $31.1 billion or about 87% of the HTF. The project results were accomplished by
conducting a review of existing industry and government reports that detail fuel tax
revenues and an analysis of EV sales from 2010 through 2016. Results show, that as
of January 2017, the lost fuel tax revenue from EV sales of 560,000 vehicles is shown
to be $111.8 million or a loss to the HTF of 0.36%. Although EVs, at present, have
little impact on the HTF, calculations for EV sales growth rates of 10% show a 5%
reduction in the HTF in about 20 years. Thus, new policies and programs that aim to
increase revenue streams for highway funding as a result of EVs are under
discussion in some states. Options being considered are fee based travel, increased
direct taxes and surcharges on vehicle purchases.
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