The Connecticut truck tax continues to be underwhelming as it fails to meet the estimated revenue of the Highway Use Tax (HUT).
Connecticut Truck Tax (Photo: Yankee Institute)
Connecticut Truck Tax Continues to Fall Short
According to CTMirror, the Connecticut truck tax continues to underwhelm as it failed to meet the estimated revenue from the Highway Use Tax (HUT).
The Highway Use Tax was passed following the defeat of Gov. Lamont’s numerous tolling proposals for CT highways, and supporters argued the Connecticut truck tax was necessary to bolster the struggling Special Transportation Fund (STF) that pays the transportation infrastructure and public transportation in Connecticut. The Connecticut truck tax is based on the weight and the number of miles it travels.
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Connecticut Truck Tax Fiscal Year Estimation for Years 2o24 and 2026
According to Inside Investigator, the Connecticut truck tax was estimated and in the estimation, the Connecticut truck tax would bring $90 million by fiscal year 2024 and almost $100 million by 2026.
However, looking at the Connecticut truck taxes now, it seems the figures are too impossible to reach and thus downgraded by roughly $25 – $30 million for the fiscal year 2024.
Right now, the Connecticut truck tax is expected to bring in $65 million over the course of FY 2024 and $67.6 million in 2026 and by fiscal year 2028, it would bring in $70 million.
