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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).
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]
The proposal was swiftly dismissed by state legislators because even some other Republicans thought it would cause the state to lose too much tax revenue. And the state gas tax was never increased ...
Since then, prices at the pump have fallen to an average of $2.79 in Georgia — third-lowest in the nation according to AAA. Now, prices most places will climb back over $3 per gallon.
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]
Georgia's governor is again suspending state taxes on gasoline and diesel fuel, declaring a legal emergency over higher prices. Gov. ... The suspension of the taxes, at 31.2 cents per gallon of ...
The gas tax included in the two-year budget would be adjusted annually with the consumer price index to ensure sufficient funding going forward, Marchbanks said. Governor's administration proposes ...
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