Last week, the Congressional Budget Office (CBO) released their score of the Electric Vehicle (EV) and Plug-in Electric Vehicle (PHEV) fees included in the House Transportation and Infrastructure Committee’s Surface Transportation Reauthorization the BUILD America 250 Act. The CBO found that the EV and PHEV fees would generate $17 billion over 10 years, and it would increase overall revenues by $12 billion. The discrepancy in the revenue generated by the fee and the total score is due to CBO assuming a reduction in payroll and income taxes.
This score of $12 billion is lower than the $30 billion assumed by the T&I Committee and further amplifies the need for Congress to fix the Highway Trust Fund. Furthermore, CBO still expects the HTF to become insolvent in 2028, and according to this new score, the HTF would have a deficit of $148 billion by the end of 2031. You may view the latest CBO score on the EV and PHEV fees by clicking here. The Highway Users view fixing the HTF as the most critical issue facing the future of the federal Surface Transportation Program, and we will continue to push to fully reform and sustain the HTF long-term. If you have any questions regarding the CBO score please feel free to contact the Highway Users at info@highways.org.
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