The Wisconsin Policy Forum reports excise tax revenues increased by 16.6 percent in the past year – the largest increase in alcohol related tax revenues in nearly 50 years.
The Wisconsin Policy Forum reports excise tax revenues increased by 16.6 percent in the past year – the largest increase in alcohol related tax revenues in nearly 50 years.
According to the Legislative Fiscal Bureau the state took in about $73.8 million in alcohol taxes in 2021 fiscal year, compared to $63.3 million in fiscal year 2020.
The Policy Forum reported earlier this year primary transportation revenues – motor fuel taxes, title fees and vehicle registration fees fell short of projections by more than $116 million in the fiscal year that ended June 30th.
The Legislative Fiscal Bureau estimates motor vehicle fuel taxes were down $62 million while revenues from registration and title fees were off by $54 million.
The Policy Forum notes that while these developments “are not catastrophic” for a fund that took in more than $2 billion the last fiscal year, “the future remains murky.”
Adoption of remote work arrangements, online shopping, and greater motor vehicle fuel efficiency, and overall, less driving will impact future transportation revenues. State transportation officials project motor fuel revenues will remain below 2020 levels for the next two years, as revenue estimates in 2022 sink to their lowest level since 2013.
