Several States Suspend Gas Taxes To Offer Relief To Residents

Several States Suspend Gas Taxes To Offer Relief To Residents

As gas prices continue to rise due to Russia’s invasion of Ukraine, folks are struggling to pay for gas. With communities of color, rural households, and low-income families being affected the most, some states are trying to help residents be able to afford to purchase gasoline. According to CBS News, Connecticut is the latest state to approve a gas tax holiday!

Today, Governor Ned Lamont signed a bill suspending the 25-cents-per-gallon tax from April until June 2022. Governor Lamont says the temporary change could cut costs by about $90 million. It might not seem like it’s a lot, but every little bit helps! Reports show that gas prices have reached a record high in mid-March.

According to tracking by AAA, the national average has hit $4.33 per gallon of regular unleaded gas and more than $5.13 for diesel. While the national average gas prices are dropping slightly, it’s still too much! Change isn’t just happening in CT. On a federal level, the Biden administration announced earlier this month the release of 30 million barrels of crude oil from the Strategic Petroleum Reserve. This is a coordinated effort with allies to ease energy prices worldwide.

Some members of Congress have also called for the suspension of the federal gas tax. The tax is just over 18 cents per gallon for gas and 24 cents per gallon for diesel. Although the Biden administration is open to a gas tax holiday, other officials have raised concerns if companies would pass the relief on to consumers.

Georgia, Maryland, and Ohio have also signed bills temporarily suspending fuel tax if you’re not a CT resident. In West Virginia, a group of Democratic lawmakers has asked Governor Jim Justice to follow suit.

As we previously reported, a group of Democratic lawmakers in California also proposed a plan to use $9 billion from the state budget surplus to help taxpayers and provide them with a $400 gas rebate. Roommates, do you think more states should implement this bill?

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