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The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.
Biden administration officials and Democratic senators are considering a suspension of the federal fuel tax in order to combat record inflation levels ahead of the Federal Reserve’s planned rate ...
Senate Democrats recently introduced the Gas Tax Relief Act, which would pause the federal fuel tax — which is about $0.18 a gallon for gasoline and $0.24 cents per gallon for diesel — until ...
The average of state taxes on fuel was 31.02¢ per gallon for gasoline and 32.66¢ per gallon for diesel fuel in 2021. However, most states exempt gasoline from general sales taxes. The total state and federal taxes are relatively low compared to other industrialized countries, already without consideration of the sales tax rebate.
The 1956 Act directed federal fuel tax to the Treasury’s General Fund to be used exclusively for highway construction and maintenance. The Highway Revenue Act, pre-dating the Fund, mandated a tax of three cents per gallon. This original Act, also known as Highway Revenue Act, was set to expire at the end of fiscal year 1972.
States are taking the lead on suspending gas taxes to help lower prices at the pump as legislation for a federal fuel tax holiday hits roadblocks in Congress.
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user ...
The state fuel tax, now 40.5 cents a gallon, accounts for about half of state revenues for transportation (the state also receives funding derived from federal fuel taxes of 18.3 cents on gas and ...