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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 governor reinstituted a temporary suspension in September, but that expired Wednesday.
The proposed policy would have occurred between July 1, 2022, and November 30, 2022. [7] The final legislation resulted instead in a one-month gas tax holiday for October 2022. [8] Other states, including New York, Georgia, Connecticut and Maryland, have suspended state gasoline taxes in 2022. [9]
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 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 ...
“We owe the bill, and we’ve got to pay it,” said a Public Service Commissioner about higher natural gas costs.
States are taking the lead on suspending gas taxes to help lower prices at the pump as legislation for a federal fuel tax holiday hits roadblocks in Congress.
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 ...