Gas Tax Increases in TIme for Fourth of July
Gas Tax Increases in TIme for Fourth of July
California drivers aren’t going to be happy as they prepare to hit the road for the Fourth of July. By law, the price of gas goes up Monday, July 1. The excise tax on gasoline will increase 3.5 cents per gallon, from 36 cents to 39.5 cents…
California drivers aren’t going to be happy as they prepare to hit the road for the Fourth of July.
By law, the price of gas goes up Monday, July 1. The excise tax on gasoline will increase 3.5 cents per gallon, from 36 cents to 39.5 cents per gallon.
Nevada County’s elected member of the Board of Equalization, George Runner explains why the tax is going up.
Click here to listen to George Runner
Gasoline consumption has gone down slightly in recent years, while the price of gasoline greatly and unexpectedly outpaced declines in consumption. Higher gasoline prices mean the BOE must adjust the excise tax to make up for the sales tax loss.
Click here to listen to George Runner
George Runner did not vote in favor of raising the tax.
Gasoline sales tax revenues fund local government programs, while the state excise tax on gasoline funds highway and mass transit projects throughout California.
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