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The other 2.5 cents of the Omnibus Act was directed towards deficit reduction. In 1993, President Clinton increased the gas tax to 18.4 cents with the Omnibus Budget Reconciliation Act of 1993 with all of the increase going towards deficit reduction. The Taxpayer Relief Act of 1997 redirected the 1993 increase to the newer Fund. [4]
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
An additional $210 billion in revenue is also raised in other revenue by switching to the Chained-CPI and an increase in the federal gasoline tax; $341 billion in federal health care savings by reforming the Sustainable Growth Rate for Medicare, repeals the CLASS Act (which has already happened), increase Medicare cost sharing, reform health ...
One proposal is a federal gas stimulus check that would give eligible Americans $100 a month through the end of the year, or for as long as the price of gas exceeds $4 a gallon, CNET reported.
The current federal gas tax is 18.4 cents per gallon and has not been raised since 1993. Senator Corker has proposed a 12 cent per As gas prices fall, higher federal gas tax proposed
In 1957, you could fill up your brand new Chevy Bel-Air for 30 cents a gallon and drive as far as your giant tailfins could take you. That's about $2.91 per gallon in today's money -- cheaper than ...
Proponents argued that this could reduce the gas price at the pump by about 18.4 cents a gallon for regular unleaded gasoline and 24.4 cents a gallon for diesel. If it were done, it was estimated the gas tax holiday would save consumers roughly $30 over the three-month period it would be instated. [1]
One of the governor's measures must pass by May 1 to suspend the gas-tax increase slated to hit in July. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 ...