Highway Trust Fund Revenues Rise
- Written by Mark Kuhar
February 6, 2012 – According to NSSGA, the nonpartisan Congressional Budget Office released its annual Budget and Economic Outlook report for the next 10 fiscal years, which includes an updated assessment of the Highway Trust Fund. In the current fiscal year ending Sept. 30, CBO projects a 20 percent increase (to $36 billion) over last year’s receipts of approximately $29 billion, but only an average annual rate increase of 1 percent for the next 10 years. Most of the increase in FY’11 is attributable to the expiration of tax credits for ethanol-blended fuels on Dec. 31, 2011. This snaps a streak of five consecutive years of declining revenue from highway gas receipts into the Highway Trust Fund. And that's good news.