Federal And State Gas Tax Relief Could Be On The Horizon

I took a look at the AAA Gas Price website today (3-18) to see where we stand on average gas prices and noticed the average in New York state has gone down about 6 cents per gallon.

In Binghamton, the price decreased 7 cents per gallon, but where I get gas, the price hasn't moved up or down over the past week and is 3 cents higher than the Binghamton average. That doesn't make me happy, but I do use my grocery store discount and gas station discount to bring it down to about 20 cents per gallon.

New York State has the 9th highest gas prices in the country. But maybe some relief will be on its way for New York and for the rest of the county as well. Federal and state governments are looking at ways to give us some relief at the pump.

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According to the website, Investopedia, state and federal leaders are looking at a temporary reduction or elimination of their gas taxes. If temporarily eliminated, the savings would be about 18 cents per gallon from Federal taxes and around 31 cents from state taxes, depending on what each state's gas taxes are.

One concern from legislators mentioned in the Investopedia article is how it might affect paying for needed road repairs and other projects funded by gas taxes. If this legislation goes through on the federal end, it would be in effect up to January 1st, 2023.

New York State Senator Peter Oberacker and Senator Fred Akshar have introduced legislation titled the New York GasTax Relief Act designed to help families in the state.
Their aim is to suspend gas taxes in New York State until September 1st, 2022. Hopefully, we'll get answers soon.

via AAA Gas Prices, Investopedia, NYS Senator Peter Oberacker