Georgia Suspends Fuel Taxes Amid War

0:00It's March 20th. Here's your global news in two minutes. Georgia has become the first state in the country to suspend its fuel taxes as pump prices climb due to the war in the Middle East. Republican governor Brian Kemp signed a 60-day pause on the 33 cents per gallon gas tax and 37 cents per gallon diesel tax, with relief expected to hit stations in the coming days. This action taps into the state's savings to cover the shortfall, estimated at 360 million to $400 million. It's bundled with larger tax relief, including income tax rebates of $250 to $500 per household for those who filed. Returns in both 2024 and 2025. Jarvis could save around $5 or $6 per tank on a typical passenger vehicle, while the tax is normally fund roads and bridges. Officials plan to use surplus funds to keep projects on track amid the higher national average price, now up to $3.91, a gallon from $2.93 just weeks ago.

1:02Unlike the surge in 2022 when several states joined in, others aren't rushing to follow this time around. Florida's governor has no plans for a similar break and efforts in places like Maryland and Connecticut face hurdles due to slimmer state budgets, post-pandemic. In this swing-state election year, Georgia Republicans framed the move as part of years-long affordability steps to ease costs for working families, setting it apart as prices keep fluctuating.