Emma LaGuardia, Kristin M. Dziczek, Richard H. Mattoon
{"title":"Electric vehicles, motor fuel taxes, and road funding in the Seventh District and beyond","authors":"Emma LaGuardia, Kristin M. Dziczek, Richard H. Mattoon","doi":"10.21033/ep-2023-2","DOIUrl":null,"url":null,"abstract":"State and federal highways are currently funded by a combination of motor fuel taxes (MFTs), general fund transfers, fees, tolls, property taxes, and bond revenues. Of these, state fuel and vehicle taxes comprised 26% of revenues used for U.S. highways, and federal fuel and vehicle taxes made up 15% in 2021, according to data from the U.S. Department of Transportation. The MFT share of funding is declining due to increasing overall fuel economy trends, inflation (since many MFTs—including the federal MFT—are assessed in cents per gallon and not indexed), and recent vehicle miles traveled (VMT) trends—especially during the 2020–21 pandemic years, which saw lower passenger and freight travel. Electric vehicles (EVs) have the potential not only to accelerate the fuel efficiency of vehicles in use, but also to lead to a sizable population of individual road users who pay no fuel taxes. A recent study estimated that EVs reduce gas tax revenues by $250 million a year (Davis and Sallee, 2019).","PeriodicalId":15611,"journal":{"name":"Journal of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":6.9000,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Perspectives","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.21033/ep-2023-2","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
State and federal highways are currently funded by a combination of motor fuel taxes (MFTs), general fund transfers, fees, tolls, property taxes, and bond revenues. Of these, state fuel and vehicle taxes comprised 26% of revenues used for U.S. highways, and federal fuel and vehicle taxes made up 15% in 2021, according to data from the U.S. Department of Transportation. The MFT share of funding is declining due to increasing overall fuel economy trends, inflation (since many MFTs—including the federal MFT—are assessed in cents per gallon and not indexed), and recent vehicle miles traveled (VMT) trends—especially during the 2020–21 pandemic years, which saw lower passenger and freight travel. Electric vehicles (EVs) have the potential not only to accelerate the fuel efficiency of vehicles in use, but also to lead to a sizable population of individual road users who pay no fuel taxes. A recent study estimated that EVs reduce gas tax revenues by $250 million a year (Davis and Sallee, 2019).
州和联邦高速公路目前的资金来源包括汽车燃油税(MFTs)、一般资金转移、费用、通行费、财产税和债券收入。根据美国交通部的数据,到2021年,州燃油税和车辆税占美国高速公路收入的26%,联邦燃油税和车辆税占15%。由于整体燃油经济性趋势、通货膨胀(因为许多MFT——包括联邦MFT——以每加仑美分计算,而没有指数化)以及最近的车辆行驶里程(VMT)趋势(特别是在2020-21年大流行期间,客运和货运旅行减少),MFT的资金份额正在下降。电动汽车(ev)不仅有可能提高正在使用的车辆的燃油效率,而且还可能导致大量的个人道路使用者不缴纳燃油税。最近的一项研究估计,电动汽车每年减少2.5亿美元的汽油税收入(Davis and Sallee, 2019)。
期刊介绍:
The Journal of Economic Perspectives (JEP) bridges the gap between general interest press and typical academic economics journals. It aims to publish articles that synthesize economic research, analyze public policy issues, encourage interdisciplinary thinking, and offer accessible insights into state-of-the-art economic concepts. The journal also serves to suggest future research directions, provide materials for classroom use, and address issues within the economics profession. Articles are typically solicited by editors and associate editors, and proposals for topics and authors can be directed to the journal office.