NEW YORK — As gas prices continue to soar across the country, three states have opted to temporarily waive their gas tax to provide relief for motorists. Other states are mulling similar plans.
Last week, Georgia Gov. Brian Kemp and Maryland Gov. Larry Hogan signed legislation that suspended their states' gas taxes for a limited period. On Thursday, Connecticut Gov. Ned Lamont signed a legislative package that included a tax holiday on the state's gas tax during the spring.
Last month, the national average price was $3.57 a gallon and a year ago, it was $2.87, according to the association. The leaders also said their state budgets have the money from surpluses and the federal relief package to offset the lost tax revenue. Political pressure and desperation from commuters, businesses and other motorists have forced state leaders to think outside of the box, he said.
De Haan said there is a potential longer-term problem by creating a gas tax holiday -- increased demand for gas when supply is still low. He said temporary tax suspension will spur some drivers to take trips that may not have been necessary, and they will gas up when they won't need to. Santangelo cautioned that solutions involving rebates or cash incentives could also create this demand.
They also stated their individual state surpluses would cover the lost revenue generated from the taxes, which generally pay for road repairs and other transportation costs.
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