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Author: Bismark R. D. K. Agbelie Publisher: Purdue University Press ISBN: 9781622602315 Category : Transportation Languages : en Pages : 34
Book Description
Highway revenues both at the federal and state levels have failed to keep up with expected investments required for infrastructure preservation and improvement. The reasons for this trend include the increasing fuel efficiency of vehicles, slowing of the growth in vehicle-miles of travel, and the erosion of the purchasing power of the dollar due to inflation. Past studies on the issue of highway revenue forecasting for Indiana highways were conducted under different economic conditions than what exists today. The present study updates the revenue projections of particularly with the recognition of new CAFE Standards. The present study also updates the equations for estimating vehicle miles of travel. Impacts of alternative options for changing the fuel tax rate structure are also investigated. The present study predicted fuel tax revenues from 2012 to 2025 under the existing fuel tax rate structure and also considered possible options for changes in fuel tax rates. Fuel tax revenue from existing rate structure indicated a continuous annual decrease from 2012 to 2025 by 2.96% to 3.49% in real terms. Adopting one of the four fuel tax rate modifications would provide additional short- term revenue for a variable number of years. A 1-cent increase would offset the decline in the total fuel tax revenue only for a year after which it will continually decline every year. A 3-cent increase would provide a substantial increase in revenue in the short term but will continually decline, however, the 2025 revenue from 3-cent increase would be a little higher than the 2012 revenue level. Both inflation indexing and an ad valorem tax would also provide substantial increase in fuel tax revenue.
Author: Bismark R. D. K. Agbelie Publisher: Purdue University Press ISBN: 9781622602315 Category : Transportation Languages : en Pages : 34
Book Description
Highway revenues both at the federal and state levels have failed to keep up with expected investments required for infrastructure preservation and improvement. The reasons for this trend include the increasing fuel efficiency of vehicles, slowing of the growth in vehicle-miles of travel, and the erosion of the purchasing power of the dollar due to inflation. Past studies on the issue of highway revenue forecasting for Indiana highways were conducted under different economic conditions than what exists today. The present study updates the revenue projections of particularly with the recognition of new CAFE Standards. The present study also updates the equations for estimating vehicle miles of travel. Impacts of alternative options for changing the fuel tax rate structure are also investigated. The present study predicted fuel tax revenues from 2012 to 2025 under the existing fuel tax rate structure and also considered possible options for changes in fuel tax rates. Fuel tax revenue from existing rate structure indicated a continuous annual decrease from 2012 to 2025 by 2.96% to 3.49% in real terms. Adopting one of the four fuel tax rate modifications would provide additional short- term revenue for a variable number of years. A 1-cent increase would offset the decline in the total fuel tax revenue only for a year after which it will continually decline every year. A 3-cent increase would provide a substantial increase in revenue in the short term but will continually decline, however, the 2025 revenue from 3-cent increase would be a little higher than the 2012 revenue level. Both inflation indexing and an ad valorem tax would also provide substantial increase in fuel tax revenue.
Author: Mark D. Berwick Publisher: ISBN: Category : Licenses Languages : en Pages : 43
Book Description
A literature review was conducted to determine the level and methods of forecasting used by states for fuel tax revenue collections and license and registration fees. The literature revealed that most state DOTs use statistical or econometric models to forecast revenue of fuel tax and license and registration fee revenue. A survey was conducted to ask states about their models. All states responding to the survey use a statistical or econometric model to forecast. It was also found that most states have some problem with forecasting error in times of economic recession or other economic shock. The survey revealed results similar to the literature review and also revealed that states model cash flow in an attempt to estimate cash balances. Models were fit to the North Dakota data to estimate fuel tax and license and registration fees. The models provide reasonable forecasts, however the model for the license and registration fees does not seem to be as good a fit as the fuel model because of variations in the data.
Author: Jungeun (Jen) Oh Publisher: Purdue University Press ISBN: 9781622601127 Category : Transportation Languages : en Pages : 174
Book Description
Under the current fuel-tax-based highway financing system, the funding gap between highway needs and revenue available is expected to grow as vehicle fuel economy improves and use of alternative fuels increases. Consequently, the highway financing mechanism needs to be restructured or a different financing strategy undertaken. Previous research provided examples of successful implementation of pricing schemes in terms of design of pricing scheme, technology issues, legal and institutional issues, and public acceptability. Synthesizing this information, a methodological framework was established for evaluation of alternative user charging schemes. Based on the assessment of the current and projected highway revenue and the needs and demand of Indiana, the study developed three alternative financing schemes: (1) enhancement of the current tax system; (2) addition of new funding sources to supplement the current system; and (3) replacement of the current system with new financing schemes. Each alternative was evaluated on the basis of the established criteria and compared with the other two alternatives. The third alternative, to replace the current fuel tax system with VMT fees, was found to have the best potential in achieving revenue adequacy, system efficiency, and equity. The implementation of this alternative, however, could be cost-prohibitive and could face opposition from the public. Based on evaluation results, a stepwise modification of the current system was proposed, aiming at a long-term goal of implementing ISCURP.
Author: Bismark R. D. K. Agbelie
Author: Bismark R. D. K. Agbelie
Author: Amiy Varma
Author: 
Author: John Raymond McCarthy
Author: Indiana. Special Tax Division
Author: Indiana University. Graduate School of Business. Division of Research
Author: Mark D. Berwick
Author: Jungeun (Jen) Oh
Author: Indiana. Commission on State Tax and Financing Policy
Author: Indiana. Special Tax Division