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According to economist Tom Kavet, Vermont’s Transportation Fund is expected to have the lowest growth rates of any major fund over the next five years, as motor fuel demand continues to recede.

Motor Vehicle Purchase and Use revenues offer the strongest prospect for growth, as limited supplies have created pent-up demand. Rising interest rates, however, will blunt financed sales in FY24, which account for 85% of new vehicle sales and 53% of used vehicle sales, slowing expected growth to less than 2%.

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