how much does the federal gas tax generate
Of course, at the pump, youâll also tack on that 18.3 cents per gallon federal gas tax. Since tax is included in the price you actually pay, it looks like this: $3.49 (what I paid at the pump on yesterday in Pennsylvania) = $.183 in federal gas + $.323 in PA state taxes + 2.984 as the âpriceâ of my gas
Gasoline Excise Taxes, 1933-2000 Brian Francis is an economist with the Special Studies Statistical Data Section. This article was prepared under the direction of Beth Kilss, Chief. T he Federal excise tax on gasoline is currently 18.4 cents per gallon. This excise tax gener-ates over $20 billion per year in tax revenue. Revenues are currently 170 times the amount gener-ated in 1933, the first year of the Federal gasoline excise tax. Receipts from this tax are the major source of revenue for the Highway Account and the