Some States are pressing ahead, in an attempt to relieve the pain at the Pump, many Americans are feeling these days, by Temporarily suspending Gas Taxes to help Lower Prices.
Maryland, on Friday, became the First State in the Nation to Suspend its Gas Tax, after Gov. Larry Hogan (R), signed Legislation which Waives the 36.1 cents per gallon Tax on Gasoline, and 36.85 cents per gallon Tax on Diesel, effective immediately, for the next 30 days.
"This is, of course, not a cure-all, and market instability will continue to lead to fluctuations in prices, but we will continue to use every tool at our disposal to provide relief for Marylanders," Hogan said in a Statement.
Also on Friday, Georgia Gov. Brian Kemp (R) signed a similar Bill, that would eliminate the State's roughly 29 cents per gallon Tax on Gasoline through the end of May. Kemp made a similar move in 2021, when he Temporarily waived State Taxes on Motor Fuels, to offset Prices after a Key Pipeline, that carries Fuel to much of Georgia and the East Coast, Shut Down following a Cybersecurity Attack involving Ransomware.
The closure at Colonial Pipeline in May, 2021, which Transports approximately 45% of all Fuel consumed on the East Coast, had raised Prices and Gas Stations throughout the Southeast, and caused reported Fuel Outages as Motorists rushed to the pump.
Gas prices overall were already gradually on the rise last year, due to several factors, as the Country began to rebound from the COVID-19 Pandemic, and fuel demand increased among Americans and Businesses.
The current spike in Gas Prices, is due in part to Russia's Invasion of Ukraine last month, and the U.S. Ban on Imports of Russian Oil and other Energy products that followed. About 8% of U.S. Imports of Crude Oil and Petroleum products came from Russia last year, according to Preliminary U.S. Government data; 3% of U.S. Oil came from Russia.
The average U.S. Price of Regular-Grade Gasoline soared to Record-Highs last week, peaking at $4.326 per gallon, levels not seen since July 2008.
Michigan Governor Gretchen Whitmer (D) also called on a Temporary Suspension of its Tax on Fuel, a move she said "will provide drivers relief at the pump right now -- not next year." "I'm ready to work across the aisle with the legislature to negotiate a bipartisan solution that cuts taxes and lowers costs for drivers, seniors, and working families," Whitmer said in a Statement.
In California, State Lawmakers proposed a $400 Gas Rebate to help Drivers with the soaring Gasoline Prices. A group of 10 California Democrats brought the Proposal forward Thursday, saying that they would use $9 billion of the State's Budget Surplus to provide the Rebate to every California Taxpayer. The Rebate would cover the State's current Gas Tax for an entire year for Cars with 15-gallon Tanks.
Evidence of the need for Relief at the Pump, couldn't have been more visually apparent than the scenes that played out in the Chicago area this week. Traffic was Backed-Up at various Gas Stations across the City Thursday, as Drivers vied for $50 in Free Gas.
Former Chicago Mayoral Candidate and Businessman, Dr. Willie Wilson, Donated $200,000 worth of Gas to participating Gas Stations "to alleviate some of the pain that Chicagoans are experiencing because of the highest fuel prices in 14 years," he said. On Friday, Wilson announced another Giveaway planned for March 24th, worth $1 million and Expanded to include 50 participating Locations in Chicago and Suburban Cook County.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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