We all know gas prices are ridiculously high – like higher than a hippy in a hot air balloon.
So what can be done to give us all a break? Michigan might be onto something as they weigh dropping their gasoline tax.
Here's Five Fast Facts …… :
- 🤕 🩹 Umm, ouch - Michiganders currently pay a 6% tax on gasoline and diesel. With fuel prices as high as they are, we're paying an extra .27 a gallon.
- 😮💨 Why so high? - This gas tax is normally used to – well – fix the damn roads. But up until this year, there really wasn't enough money in the pot to fix much. Now that we have enough to start major repair projects, Michigan lawmakers are considering pausing the tax to give drivers a well-deserved break.
- ☀️⛱️ Just a summer break - The temporary measure would only last 3 months. But hey, less money spent on gas means more money to par-tay on vacay, right!?
- 🦹🏫 Is this just Robbing Peter to pay Paul - Not exactly. If the "pause" is approved, the money needed to continue road repair projects would need to come from the state income tax instead, which is mainly used to fund schools. Otherwise, another source is needed to keep up road repairs. Got any ideas?
- 😲💸 The outlook - Pausing the gas tax isn't a permanent solution to the ever-rising gas prices but it could help drivers hang on to their own money a little longer. The situation may worsen before it gets better -- analysts expect prices to jump another 37% by August, putting the national average cost around $6/gallon.
🔥Bottom line: You deserve a break. We all deserve a break. This proposed tax holiday would help, it certainly isn't a cure-all. Because $6 a gallon!? It might be time to invest in a moped.
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