Highway Trust Fund and Taxes: Fact Sheet
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2016-02-01
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Abstract:The FAST Act generally extends the imposition of highway-user taxes through September 30, 2022 with no change to the tax rates, which are summarized in the table below. This includes taxes on highway motor fuel—most notably a Federal tax of 18.4 cents per gallon on gasoline and of 24.4 cents per gallon on highway diesel fuel. The Federal government also imposes other truck-related taxes, including an annual tax on heavy vehicle use, a load rating-based tax on truck tires and a retail sales tax on trucks and trailers. The FAST Act extends the heavy vehicle use tax through September 30, 2023. The taxes on highway motor fuel will continue past September 30, 2022, but at a reduced rate of 4.3 cents per gallon. [FAST Act § 31102] The FAST Act also extends (without rate change) the imposition of the Leaking Underground Storage Tank Trust Fund tax of 0.1 cent per gallon on most fuels. [FAST Act § 31102, 26 U.S.C. 4081]
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