Highway Trust Fund’s 79% plunge in tax receipts is bad omen for state DOTs, AASHTO says

The federal Highway Trust Fund saw a 79 percent drop in tax receipts in May compared to May 2019, and the American Association of State Highway and Transportation Officials fears similar revenue declines will hit the states.

Net deposits of tax receipts to the HTF dropped nearly $2.6 billion year-over-year in May, AASHTO says. The HTF is primarily funded by federal gas and diesel tax revenues to allocate to states for federal highway improvements.

AASHTO also notes that vehicle travel on all roads and streets dropped nearly 40 percent in April versus April 2019.