Tennessee is projected to collect $655.2 million in the 2022 fiscal year through its gas and diesel taxes. As gas-powered vehicles give way to EVs, the state will need to make up the lost fuel-tax revenue.
Governing By Andy Sher
November 29, 2021 (TNS) — As the 100th anniversary of Tennessee's first gas tax approaches in 2024, state government officials here are warily looking down the road at how financing for highway and bridge construction, improvements and repairs will fare in an age when vehicles are powered increasingly by electricity. "It's really not a big impact today, but we'd be foolish to think it's not going to be," interim state transportation Commissioner Joe Galbato told Gov. Bill Lee during the department's budget hearing earlier this month. "We know what's coming because most of the manufacturers are going to stop producing combustion engines." It's an issue not just for Tennessee and local governments here but across the U.S.
View the full article: Governing.com
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