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Industry
Statistics
> Taxes Paid by the Industry
Taxes Paid by the Industry
Inland Waterways Trust Fund Receipts
The barge and towing industry has contributed nearly $1.6
billion in fuel tax revenues to the Inland Waterways Trust
Fund since its inception in 1986. Interest on these monies
has added another $302 million to the Trust Fund, which pays
50 percent of the cost of construction and major rehabilitation
projects on the inland waterways system. The chart shows the
annual receipts of the Inland Waterways Trust Fund from 1992-2005.
Source: U.S. Army Corps of Engineers.
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Year-End Balances of the Inland Waterways
Trust Fund
The Inland Waterways Trust Fund had a balance of $352.6 million
at the end of FY 2005. This is a 10.5% decrease from a 2002
peak of $394.1 million. The chart displays the balances for
the most recent fourteen years and shows that the last three
years of declines are only a modest inroad to a decade of
expanding balances. In FY 2005, the Fund collected $91.3 million
from the barge and towing industry and an additional $7.6
million in interest, for total income of $98.9 million. At
the same time, the Fund distributed $136.3 million for construction
purposes.
Source: U.S. Army Corps of Engineers.
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4.3-cent Fuel Tax Payments
The Budget Act of 1993 imposed a 4.3-cent tax on all transportation
fuels. Initially, all receipts went to the U.S. Treasury,
not the various transportation trust funds. Subsequently,
the taxes paid by the aviation and trucking industries were
redirected to their trust funds. The taxes paid by the towing
and rail industries still go to the general Treasury. The
barge and towing industry has paid $247 million in this tax
from its inception through the end of fiscal year 2005. As
the chart shows, the annual payments range from $16.2 million
to $23.3 million.
Source: U.S. Army Corps of Engineers.
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