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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]
Gov. Mike DeWine has signed legislation that could increase how much consumers pay for natural gas as part of a plan to boost economic development.
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).
[193] [195] With 2018 imports of Mexican goods totaling $346.5 billion, a 5% tariff constitutes a tax increase of over $17 billion. [ 18 ] On the evening of June 7, Trump announced that the planned Mexico tariffs were "indefinitely suspended" after Mexico agreed to take stronger measures to curb immigration across the border of the U.S.
The number of states passing laws to suspend gas taxes could soon grow further. As gas tax holidays help consumers in 3 U.S. states, others may follow [Video] Skip to main content
Then in early 2015, she called for raising the gas tax by 10 cents over three years, coupled with a plan to cut the top income-tax bracket from 7% to 5% over a decade.
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 ...
The national average for a gallon of regular gas topped $5 in June. While today's $4.16 is still high compared to the $3.18 motorists were paying this time last year, at least they're coughing up ...