States Consider Gas Tax Breaks Amid Higher Prices

States Consider Gas Tax Breaks Among Higher Prices

( – Gas prices dipped slightly this week after the price of a barrel of oil dropped below $100, but it still isn’t enough to really help Americans at the pump. AAA reports the average price for a gallon of gas is $4.30 across the nation. Some states are taking steps to help their residents get through the crisis.

According to The Hill, there’s a bipartisan effort across the country to help ease the pain at the pump. Florida legislators recently voted to suspend the gas tax (about 18 cents per gallon) for a month but it won’t begin until October. The Georgia House of Representatives also voted to suspend its gas tax (29 cents per gallon) until the end of May and Maryland is trying to follow suit with its 37-cents-per-gallon tax. California, Virginia, Michigan, and other states are also trying to find ways to help people pay for fuel through the crisis.

Jared Walczak, an analyst at the Tax Foundation, told The Hill that if states suspend their gas taxes, there’s no guarantee they will be able to reduce the burden on their residents by exactly the amount of the tax. He explained it’s because global instability and high demand are creating high prices.

However, at this point, any relief would be helpful.

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