Introduction 1
Highway Account Revenue 2
    Sources of Revenue 2
    Purchasing Power of Highway Account Revenue 4
    Diminishing Value of Fuel Taxes 6
        Vehicle Miles Traveled 6
        Vehicle Fuel Economy 8
Highway Account Expenditures 9
Gap Between Revenue and Expenditures 11
    Transfers to the Highway Account 13
    Future Projections 14
Issues for Congress 14
    Transfer Money from the General Fund to the Highway Trust Fund 15
    Bypass the Highway Trust Fund 15
    Raise Revenue 15
        Increase Existing Taxes 16
        Alternatives to the Fuel Taxes 16
    Reduce Expenditures 19
        Reduce the Federal Share for Highway Projects 20
        Eliminate or Reduce Funding for Existing Federal Highway Programs 20
        Devote Highway Trust Fund Revenue Exclusively to Highways 20
        Devolve the Federal-Aid Highway Program to the States 21

Figures
Figure 1. Highway Account Revenue, FY1983-FY2024 5
Figure 2. Purchasing Power of the Federal Gasoline Tax Dedicated to the Highway Trust Fund 6
Figure 3. Annual Vehicle Miles Traveled on U.S. Public Roads, 1983-2022 7
Figure 4. Annual Rate of Change for Vehicle Miles Traveled on U.S. Public Roads, 1983-2022 8
Figure 5. Highway Account Expenditures, FY1983-FY2024 10
Figure 6. Highway Account Revenue and Expenditures, FY1983-FY2024 12

Tables
Table 1. Federal Transportation-Related Excise Taxes Deposited into the Highway Trust Fund as of FY2025 3
Table 2. Transfers to the Highway Trust Fund 13
Table 3. CBO’s Projected Gap Between Highway Account Revenue and Outlays 14

Contacts
Author Information 22