Finance

Revenues

Federal Fuel Excise Taxes

On Gasoline: 18.4 cents per gallon

On Diesel: 24.4 cents per gallon

■ Taxes are collected and deposited in the Federal Highway Trust Fund.

■ Taxes are returned to the states in the form of Federal Obligation Authority (OA) for reimbursement.

■ Under the Federal Authorization, Fixing America’s Surface Transportation Act (FAST Act), and Infrastructure Investment and Jobs Act (IIJA Act), California’s OA for Federal Fiscal Year 2021-22 for the core Federal Highway Administration formula programs was approximately $4.3 billion plus an additional $681 million during August Redistribution, of which nearly 40% was available for local priorities. For Federal Fiscal Year 2022-23, under the new Infrastructure Investment and Jobs Act, California’s Formula OA for the core formula programs for the period beginning on October 1, 2022, and ending on September 30, 2023, is projected to be approximately $4.2 billion.