Publisher's Synopsis
Excerpt from Present Law and Proposals Relating to Extension of Highway-Related Excise Taxes and Reauthorization of Highway Trust Fund Expenditures: Scheduled for a Hearing Before the Committee on Ways and Means on July 22, 1986
Excise taxes are imposed on gasoline and diesel and other motor fuels, trucks and truck trailers, heavy tires, and heavy highway vehicles. Revenues from these highway-related excise taxes are deposited into the Highway Trust Fund. The taxes are currently scheduled to expire after September 30, 1988.
Deposits of pre-october 1, 1988 excise tax liabilities will continue to go into the Trust Fund for an additional nine months (through June 30, The table below provides a present law tax rate schedule for Highway Trust Fund excise taxes.
Present Law Highway Trust Fund Excise Taxes (through September 30, 1988)
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