North Carolina suspends 41-cent-per-gallon gas tax through November
What happened
The North Carolina House passed the Relief at the Pump Act, which suspends the state’s 41-cent-per-gallon gas tax through the end of November. The bill goes into effect Saturday, though savings may be delayed because gas stations have already paid the tax on gasoline currently in their tanks. Josh Stein joined farmers for the signing of the legislation.
From wsoctv.com
Why it matters
The state relies heavily on motor fuel taxes to fund transportation, and the suspension is estimated to reduce transportation revenue by $360 million. While the tax relief could provide immediate savings for drivers, the reduction in state funding raises concerns about the impact on state projects.
From wsoctv.com
Who's involved
- Josh SteinExecutive leader of North Carolina who joined the signing of the tax suspension bill
- North CarolinaState where the gas tax suspension legislation was passed
- North Carolina Department of TransportationGovernment agency whose transportation funding is impacted by the tax suspension
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- North CarolinaSpeculative
The state might face reduced revenue, totaling an estimated $360 million, due to the tax suspension.
- North Carolina Department of TransportationSpeculative
The North Carolina Department of Transportation could see its transportation funding reduced because of the motor fuel tax suspension.
Keep exploring
The entities involved
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Josh Stein
American politician (born 1966)
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Alan Wilson
British sculptor
Nothing else this week.
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Henry McMaster
American politician (born 1947)