The Georgia Senate Finance Committee backed a measure Tuesday to suspend state fuel taxes as metro Atlanta gas prices remained sky high.
The House passed the suspension last week, and the committee’s move is expected to lead to a quick final approval in the General Assembly.
It would then head to Gov. Brian Kemp’s desk for his signature.
The measure would suspend the 29.1 cents-a-gallon motor fuel tax through May 31. Based on previous years’ collections, the move would save drivers about $400 million in taxes. Kemp said the loss of revenue would be made up with surplus state funds.
It won’t be felt immediately throughout the state since stores would be selling gas they received prior to the suspension and paid taxes on. Lawmakers said it would take some time for the untaxed gas to make its way into the pipeline.
Politicians in both parties have staked their positions to suspend gas taxes at both the state and federal level as Russia’s invasion of Ukraine seems certain to send gas prices to new heights. President Joe Biden last week banned imports of Russian oil, gas and coal to punish dictator Vladimir Putin’s “vicious war of choice,” a decision that roiled the energy market.
The average price of a gallon of regular fuel in metro Atlanta was at $4.32 on Tuesday, higher than the crest reached in the aftermaths of Hurricanes Katrina and Rita, according to GasBuddy, a fuel-tracking service.
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