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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).
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Gov. Brian Kemp has renewed a suspension of the gasoline sales tax for Georgia while blaming the Biden administration for high gas prices. Georgia gas sales tax suspended again. Set to expire in ...
Georgia's state taxes on gasoline and diesel will be suspended for another month after Gov. Brian Kemp extended the tax rollback in a Friday executive order. The suspension of the taxes, at 31.2 ...
Georgia has extended the gas tax holiday through July, with a hefty price tag — but it may be worth it, say some experts. Georgia has extended the gas tax holiday through July, with a hefty ...
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user ...
Georgia's governor is again suspending state taxes on gasoline and diesel fuel, declaring a legal emergency over higher prices. Gov. Brian Kemp signed the executive order Tuesday morning. The ...
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]