High gas prices are spurring states to waive taxes and regulations amid midterm election
Stephen Moore: Unleash Prosperity Hotline – Well, it appears a lot of state lawmakers are reading the HOTLINE. Last week we blasted around the country our recommendation that states suspend their gas taxes and fuel regulations until the price of gas falls below $3.50 a gallon. Within days states started doing just that, according to ABC News.
State officials nationwide are focusing on rising gas and diesel prices tied to the war in Iran. State officials nationwide are focusing on rising gas and diesel prices tied to the war in Iran. Some states have suspended their fuel taxes. Others have temporarily reduced taxes. And still more have targeted relief only to farmers, loggers and others who use a special type of diesel fuel.About one-third of states are now lowering their gas or diesel prices, including:
- Ohio suspended its 38.5-cent gasoline and 47-cent diesel taxes for 90 days
- Georgia resumed a 30-day motor fuel tax holiday following earlier pauses this year.
- Indiana extended its exemption on the 7% gas usage tax and 36-cent excise tax.
- Utah enacted a 6-cent per gallon reduction (about a 15% cut) through the end of the year.
- Illinois and Kentucky delayed scheduled tax increases that were slated for July.
- North Carolina's legislature will go into special session this week to vote on suspending its 41-cent gas tax.
Why isn’t EVERY state doing this?
