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U.S. Auto Industry Generates $135 Billion in Tax Revenue
The production, sales, service and use of motor vehicles in America contributed tax revenues of at least $43 billion to the federal government and nearly $92 billion to state governments in 2010, according to a new study from the Center for Automotive Research.
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The production, sales, service and use of motor vehicles in America contributed tax revenues of at least $43 billion to the federal government and nearly $92 billion to state governments in 2010, according to a new study from the Center for Automotive Research.
The Ann Arbor, Mich.-based group says the auto industry accounts for 13% of all state tax revenue. CAR notes that as the U.S. economy improves, higher sales and employment would generate additional tax revenue.
The study's revenue totals include taxes and fees on sales, fuel, registration and licenses, as well as taxes paid by employees and automotive companies.
The report, which was funded by the Alliance of Automobile Manufacturers, is available HERE or at www.cargroup.org.
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