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How will the Highway Trust Fund be funded with a transition to electric vehicles?
Posted on 5/1/21 at 10:53 am
Posted on 5/1/21 at 10:53 am
In 2020 the highway trust fund captured roughly 43 billion in taxes in the form of gas/diesel excise taxes as well as sales taxes on heavy vehicles.
A chart illustrating the breakdown is below
Obviously as more drivers transition to electric vehicles the 2 biggest drivers of that revenue will naturally go down
I know 43 billion sounds like chump change next to all of the stimulus bills we've been rolling out and it's not a massive chunk of federal revenue, but it's certainly not negligible either.
Biden was recently pressed about whether he would consider promoting a raise in the federal excise taxes and he said no. And even if you did raise the per gallon rate it's obviously going to be an issue of diminished returns.
So, where does the money come from in the future? Any suggestions?
A chart illustrating the breakdown is below
Obviously as more drivers transition to electric vehicles the 2 biggest drivers of that revenue will naturally go down
I know 43 billion sounds like chump change next to all of the stimulus bills we've been rolling out and it's not a massive chunk of federal revenue, but it's certainly not negligible either.
Biden was recently pressed about whether he would consider promoting a raise in the federal excise taxes and he said no. And even if you did raise the per gallon rate it's obviously going to be an issue of diminished returns.
So, where does the money come from in the future? Any suggestions?
18
Posted on 5/1/21 at 10:56 am to concrete_tiger
quote:
Mileage
That's one way to do it
I wonder if that would apply to commercial vehicles
Posted on 5/1/21 at 11:25 am to Powerman
quote:
So, where does the money come from in the future? Any suggestions
Your electric bill will get hit as politicians will need money for both highways and upgraded grid.
Posted on 5/1/21 at 11:28 am to Kino74
quote:
Your electric bill will get hit as politicians will need money for both highways and upgraded grid.
So you think a federal electric utility tax will be levied?
Posted on 5/1/21 at 11:28 am to Powerman
Since 50% of electricity comes from burning coal, maybe a coal tax
Posted on 5/1/21 at 11:29 am to concrete_tiger
quote:
Mileage
Weight and mileage. Probably via GPS. Hopefully, the GPS measurements would be a monthly dump stripped of all tracking data except total mileage as a matter of law.
Posted on 5/1/21 at 11:29 am to OccamsStubble
quote:
Since 50% of electricity comes from burning coal, maybe a coal tax
You are WAY behind the times if you think that coal accounts for 50% of the grid today
ETA as you can see coal makes up just under 20% of grid generation and that number will continue to be attenuated
LINK
This post was edited on 5/1/21 at 11:31 am
Posted on 5/1/21 at 11:33 am to Auburn1968
quote:
Hopefully, the GPS measurements would be a monthly dump stripped of all tracking data
Posted on 5/1/21 at 11:37 am to Auburn1968
quote:
Probably via GPS.
There is no way anyone will hack that system.
Posted on 5/1/21 at 11:38 am to Auburn1968
quote:
Weight and mileage. Probably via GPS. Hopefully, the GPS measurements would be a monthly dump stripped of all tracking data except total mileage as a matter of law.
Not all cars have GPS tracking although I suspect that will eventually be a false statement
Posted on 5/1/21 at 11:39 am to concrete_tiger
Mileage taxes, higher registration fees, and extra fees when you charge in public
Posted on 5/1/21 at 11:45 am to Powerman
quote:
I wonder if that would apply to commercial vehicles
Are the majority of miles by commercial vehicles on public roads? I would assume yes, so they should be taxed for the mileage.
This assumes that the fuel taxes would be replaced (removed) by the mileage. LOL Who am I kidding. Politicians would never remove the fuel tax. They will add a mileage tax but the fuel tax has to stay to punish people for using those "nasty fossil fuels".
Posted on 5/1/21 at 11:46 am to Auburn1968
quote:
Weight and mileage. Probably via GPS. Hopefully, the GPS measurements would be a monthly dump stripped of all tracking data except total mileage as a matter of law.
This is the goal of Big Brother. They will HAVE to track you
They also want to spread the road use tax over all of the electricity used. It makes electric vehicles cheaper vs IC vehicles. It's part of infrastructure right? Just like the rest of the crap they are throwing into that bucket.
I have thought the best way would be to pay at the plug. It would be easy for the utility company to ID that your vehicle is getting transportation energy. Then tack on a road use tax. It would be simple to send data thru that charging circuit.
I already know which fuse my GPS in my truck uses. To make it easier I might just wire in a little toggle switch.
They want to know where you are, what you are doing and who you are doing it with.
Posted on 5/1/21 at 11:51 am to alphaandomega
quote:
LOL Who am I kidding. Politicians would never remove the fuel tax
Yeah I don't see that tax ever going away
If anything it will eventually go up
Posted on 5/1/21 at 11:54 am to Powerman
They can make motorcycles free.
Posted on 5/1/21 at 11:55 am to Powerman
quote:
Yeah I don't see that tax ever going away
If anything it will eventually go up
It will be considered a "sin tax" and will be raised to force people into EV's.
Then they will find some other way to tax you.
Posted on 5/1/21 at 11:56 am to BuckyCheese
quote:
It will be considered a "sin tax" and will be raised to force people into EV's.
People will likely want to transition to EVs once the tech improves
Posted on 5/1/21 at 12:03 pm to Powerman
Fortunately, I won't see it in my lifetime and probably not even in my children's lifetime. Getting away from fossil fuel is a pipe dream.
Did y'all see where Kerry divested himself of millions in oil stocks when named energy czar or whatever bogus title they gave Lurch?
Did y'all see where Kerry divested himself of millions in oil stocks when named energy czar or whatever bogus title they gave Lurch?
Posted on 5/1/21 at 12:05 pm to Diamondawg
quote:
Fortunately, I won't see it in my lifetime and probably not even in my children's lifetime
The acceleration toward an EV fleet is happening right now in front of us
As I predicted about 8 years ago on this forum and was dismissed as a loon
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