Board of Equalization wants to drop fuel excise tax

February 14th, 2014 | by Colin Atagi | Comments

The California Board of Equalization announced Friday that it wants to lower the state excise tax on gasoline.

If board members vote in favor of the drop at their Feb. 25 meeting, the tax will drop by 3.5 cents to 36 cents per gallon. That would save 42 cents for anyone with a 12-gallon tank.

tdsdc5-5q584fd3b9vcexnq3tw_layout“I look forward to voting in favor of this much-needed tax cut for all Californians,” Vice Chairwoman Michelle Steel said in a statement.

The lower tax would last during fiscal year 2014-2015.

“This proposed gas tax cut will give Californians a much deserved tax break and help lower travel costs this summer,” board member George Runner said in a statement.

Excise tax revenue goes toward public road and mass transit improvements and the BOE is tasked with monitoring sales and tax activity.

 

 

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