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A bi-partisan Congressionally-created commission has recommended a shift from motor fueltaxes to direct fees charged to transportation infrastructure users—i.e., a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The nation faces a crisis. Summary of revenue options. Click to enlarge.
Minnesota’s highway revenues are derived from three sources: the gastax, vehicle registration fee or tabs and the motor vehicle sales tax. Other state DOTs also are researching alternative financing methods to supplement or replace a gastax. —Cory Johnson, project manager.
In a study published in the journal Energy Economics , MIT researchers have found that a fuel economy standard is at least six to fourteen times less cost effective than a fueltax when targeting an identical reduction in cumulative gasoline use (20% by 2050). Paltsev, M. Babiker, J.M. 2012.09.001.
As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fueltax increase of $0.19 The increased fueltax is intended to be in lieu of an increase in tolls. per gallon—a 81% increase of the current $0.235 per gallon.
introduced legislation that would set an escalating fee on greenhouse gas emissions from large stationary sources to fund investments in energy efficiency and sustainable energy technologies and also provide rebates to consumers to offset increases in energy prices. Among the financing provisions of the legislation are: Price on carbon.
Under the scheme, around 500 of the largest emitters in Australia—facilities that have direct greenhouse gas emissions of 25,000 tonnes of CO 2 -equivalent per year or more (excluding emissions from transport fuels and some synthetic greenhouse gases)—will need to buy and surrender to the Government a permit for every tonne they produce.
in a press conference last week, is the linkage of transportation planning with greenhouse gas emissions reductions. DOT, through performance measures, would verify that States and metropolitan areas achieve progress towards national transportation-related greenhouse gas emissions reduction goals. Oberstar (D-Minn.) Mica (R-Fla.)
While Russia holds significant leverage in influencing oil and gas prices, it pales in comparison to China’s position in several strategic industries critical to the energy transition, says report author Michelle Michot Foss, fellow in energy and materials at the Baker Institute. —Baker Institute report Need Nickel?
In spring the Chancellor presents the annual Budget statement, which includes a detailed assessment of the state of the economy and the nation’s finances. In his statement, the Chancellor may announce changes to taxes and new spending measures. As also announced in the 2008 Budget, the 20 pence per liter (US$1.21
The US has up to now adhered to the user-fee principle in financing transportation infrastructure—i.e., users pay for the construction and maintenance of roads via a federal fueltax. In the meantime, cars and trucks have become more fuel-efficient. States use similar mechanisms. —Huang et al.
In order to ensure the state has the funds necessary to support these projects, the law dictates that the Petroleum Products Gross Receipt (PPGR) tax rate must be adjusted accordingly to generate roughly $2 billion per year. Background on Chapter 57 & calculation of tax rate formula. million.
President Obama’s plan, which sidesteps the need for Congressional involvement by relying on a wide variety of executive actions, has three main components: Reducing greenhouse gas emissions in the US. Reducing greenhouse gas emissions in the US. of greenhouse gas emissions to 3% by 2020. Other efforts will include: Natural Gas.
Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US.
greenhouse gas (GHG) emissions from the transportation sector, and in most cases make decisions that will likely increase. transportation, and ensure state fueltaxes can support all transportation modes. Update transportation financing and funding formulas to reward reductions in driving, VMT, and fuel.
The report from a task force assembled by the CEPS (Centre for European Policy Studies), a Brussels-based think tank, on European transport policy has concluded that the EU’s goal of a 60% greenhouse gas (GHG) emissions reduction in the transport sector in 2050 compared to 1990 levels is possible, but at a cost.
Bloomberg New Energy Finance estimates battery cost will decline by almost 10% until 2025, when ZEVs will reach price parity with ICE vehicles. In January 2018, Assemblyman Phil Ting introduced a bill that would ban gas-powered cars by 2040. Performance: Battery range has been increasing annually. Grid overload is another concern.
These provisions will ultimately strengthen the industries producing low carbon fuel alternatives and position the U.S. to meaningfully reduce transportation greenhouse gas emissions, our nation’s highest emitting sector. Heavy-duty trucks will need advanced biofuels for some time.
” – March 7, Business Insider via Yahoo Finance. Minnesota State Senator Proposes Electric FuelTax – As more residents of Minnesota buy electric vehicles gastax revenue will decline causing the state to find a way to replace the gastax money it uses to pay for roads and bridges, said Central Minnesota Sen.
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