How much does one penny of the federal motor vehicle tax generate for the Highway Trust Fund?
The federal excise tax on gasoline and diesel fuel currently generates about $1.75 billion of revenues per penny of tax. Of this total, $1.4 billion per penny of tax is deposited into the Highway Account and used to finance the federal highway program. The remaining $350 million per penny of tax is deposited into the Mass Transit Account and used to finance the federal public transportation program.
