Federal Highway Trust Fund (HTF) Receipts
Most receipts from the Federal taxation of motor fuel, along with a number of other highway-related taxes, are deposited in the Federal Highway Trust Fund. The Trust Fund is made up of two accounts - highway and mass transit - and is dedicated for the funding of Federal surface transportation programs. In this way, taxes on highway users are used to fund highway facilities. The Trust Fund has provided a stable funding source for highway programs since it was established in 1956.
Motor-fuel tax receipts accounted for $14,317 billion in Fiscal Year 1994, or 85.9 percent of all Trust Fund tax receipts. Other taxes accounted for $2.350 billion. The balance in the Trust Fund earned interest income of $1.438 billion.
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Federal Highway Trust Fund Balance and Commitments
The balance in the Highway Trust Fund grew from $9.581 billion at the end of Fiscal Year (FY) 1983 to $17.871 billion at the end of FY 1994. At the end of FY 1994, the Highway Account held a balance of $7.927 billion and had unpaid commitments of $42.623 billion. Funds for highway projects are committed when the project is initiated and are paid out as the project progresses. Because construction projects are long term in nature, the highway-user tax revenues can be committed to projects in advance of actual tax collection.
Federal-Aid Highway Obligations
by Type of Improvement - 1989 - 1993
| Obligations of Federal-aid highway funds totaled $80.1 billion for the 5-year period 1989 through 1993 - an average of $16.0 billion per year. Reconstruction work represents the largest portion of obligations during this period.
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Highway Receipts by Category
Highway Expenditures by Function
Total receipts for highways by all units of government reached $87.3 billion in 1993 - a 227 percent increase compared to 1973. Highway-user fees, which make up the largest share of receipts, account for 72 percent compared to 85.6 percent in 1973. General fund appropriations make up a growing share of highway receipts and now account for 17.2 percent of the total compared to 13.8 percent in 1973. Capital expenditures currently account for 53.1 percent of highway expenditures compared to 58.4 percent in 1973; maintenance accounts for 31.2 percent compared to 28.6 percent in 1973. Expenditures for administration, highway patrol, and bond interest also account for an increasing share of total expenditures - 24.9 percent in 1993 versus 22.4 percent in 1973.
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Highway Receipts and Expenditures
by Government Unit
State governments account for the largest shares of highway receipts and expenditures, but the shares attributed to local units of government have increased significantly since 1973. local governments now account for 27.3 percent of total receipts and 37.8 percent of total expenditures compared to 18.7 percent and 32.7 percent, respectively, in 1973. Receipts collected by the Federal Government for highways have increased over 145 percent compared to 1973; however, the relative share of total receipts has decreased from 27.8 percent in 1973 to 20.9 percent in 1993.
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Highway Capital Expenditures and Maintenance Expenditures by All Units of Government
Highway capital expenditures increased 243 percent from 1970 to 1993. Adjusted for inflation, 1993 capital expenditures (expressed in constant 1970 dollars) were only 10 percent above the 1970 level. Expenditures for highway maintenance in 1993 increased 403 percent compared to 1970. After accounting for inflation, 1993 maintenance expenditures were only 35 percent above the 1970 level.
1 Capital Expendituresinclude construction, engineering, and right-of-way.
Highway Construction Price Trends And Consumer Price Index
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Federal Highway - User Fees1
Highway Trust Fund Authorizations1
for FY 1995, 1996, and 19972 (in Millions of Dollars)
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