CRS PROVIDES FACT SHEET ON GASOLINE EXCISE TAX REVENUE.

             GASOLINE EXCISE TAX -- HISTORICAL REVENUES:

[2] Recent congressional proposals have called for the repeal of the 4.3 cent per gallon tax imposed in 1990 on ALL motor fuels for deficit reduction purposes. The stated purpose is to reduce the cost of consumer expenditures for gasoline. The Joint Committee on Taxation (JCT) estimates that a temporary repeal for a six month period would result in a loss of federal revenues of $2.902 billion. If repeal only applied to gasoline the loss would decline to $2.194 billion. The JCT reports that permanent repeal of the 4.3 cent rate for ALL motor fuels would decrease federal revenues by $51.669 billion over FY1996-2005 period. If permanent repeal applied only to gasoline the loss would decline to $37.947 billion.

[3] In the Analytical Perspectives volume of the Budget of the United States Government for fiscal years 1996 and 1997 the amounts of revenues from transportation fuels are reported. In FY1994, all transportation fuels contributed $9.402 billion to the general fund. Their contribution to the general fund fell to $8.491 billion in FY1995. If rates remain the same it is projected that $6.920 will be collected in FY1996 rising to $7.162 billion in FY1997. The table which appears on the following page presents collections from the federal excise tax on gasoline.

               TABLE 1. Gasoline Excise Tax Collections