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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 ...
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
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 United States federal excise tax on gasoline is 18.4 cents per US gallon (4.9 ¢/L) and 24.4 cents per US gallon (6.4 ¢/L) for diesel fuel. On average, as of July 2016, state and local taxes add 29.78 cents to gasoline and 29.81 cents to diesel for a total US average fuel tax of 48.18 cents per US gallon (12.73 ¢/L) for gas and 54.21 ...
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As of Jan. 1, the Petroleum Products Gross Receipts Tax will go from 31.8 cents to 34.4 cents for gasoline and from 35.8 cents to 38.4 cents for diesel fuel — putting the total tax rates for ...