"Rising Gas Taxes and Expensive Living: July 1 Brings Financial Burdens to California and Illinois"

1 min read
Source: FOX 11 Los Angeles
"Rising Gas Taxes and Expensive Living: July 1 Brings Financial Burdens to California and Illinois"
Photo: FOX 11 Los Angeles
TL;DR Summary

Starting July 1, California's gasoline tax increases by 4 cents per gallon, raising the excise tax rate from around 54 cents per gallon to 58 cents per gallon. The increase is due to Senate Bill 1, which incrementally raises the fuel excise tax each year. The revenue generated from the tax is primarily used to repair roads, bridges, and improve public transportation. California lawmakers are also considering replacing the gas tax with a mileage tax, following the trend of other states and the federal government in exploring alternative revenue sources for transportation funding.

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