Home » Economy » California to raise its gas tax, already the highest in the nation
California to raise its gas tax, already the highest in the nation
Biden allowing federal drilling won’t impact gas prices for ‘over a year’: Oil expert
Lipow Oil Associates President Andy Lipow says the industry actually wants five times what President Biden is offering.
California lawmakers appear unlikely to pause the annual summer increase in the state's gasoline tax ahead of a May 1 deadline, Gov. Gavin Newsom’s office said on Monday.
Newsom, a Democrat, had previously expressed support for helping California motorists experiencing pain at the pump by waiting to implement a 5.6% tax hike scheduled to take effect on July 1. The tax is used to fund roads and other infrastructure projects; the state's Legislative Analyst's Office projected the tax will generate about $8.8 billion in revenue during the 2021-22 fiscal year.
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But lawmakers will almost certainly fail to stop the gas tax increase from taking place because they would need to pass legislation by Sunday in order to do so – and have yet to introduce a bill on the matter.