Tag: Georgia Gas Tax

Georgia Flush with Nearly $11 Billion in Cash Reserves, $5.4 Billion in Rainy Day Fund: State Report

Tom Pappert

Georgia has accrued nearly $11 billion in cash reserves, invested the maximum legal amount into its rainy day fund, and tucked more than $2 billion into its lottery reserve fund, according to a government report published Monday.

The State Accounting Office published its report for the budget year ending in June 2023 this week, revealing the state has just over $10.7 billion cash on hand. Georgia also boasts almost $5.4 billion in its rainy day fund, which is at its constitutional limit, and $2.1 billion in its lottery reserve fund.

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Georgia Gas Tax Moratorium Ends, Rises to 31.2 Cents

Eric Burk

Governor Brian Kemp allowed Georgia’s moratorium on state gas and diesel taxes to expire on Tuesday night, after first introducing the moratorium in May and renewing it six times since then.

In 2022, Georgia’s gas tax was 29.1 cents and the diesel tax at 32.6 cents, but that’s going up on Wednesday to 31.2 cents and 35 cents, respectively. As of January 10, before the taxes took effect, Georgia’s average gas price was $2.808, below the national average of $3.270, according to AAA Gas Prices.

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Kemp Touts Lower Prices at the Pump Month After Gas Tax Suspension

Peter D'Abrosca

Georgia’s governor is touting lower gas prices one month after he signed into law a bill suspending the state’s tax on gasoline. 

“A month ago, I signed HB304 to temporarily suspend the state gas tax and help counter Biden-flation at the pump,” Gov. Brian Kemp (R) said on Twitter. “This week, the price of an avg. gallon in GA was down 57 cents. We’ll keep doing our part to lessen the impact of failed policies on Georgians’ wallets.”

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Georgia Gov. Kemp Expected to Sign Law Suspending Gas Tax

Peter D'Abrosca

After a swift and unanimous passage through both chambers of the Georgia General Assembly, Gov. Brian Kemp (R) is expected to sign into law a bill that will temporarily suspend the state’s tax on gasoline. 

HB 304 would take effect on May 31. Kemp is reportedly expected to sign the bill, which will alleviate prices at the pump to the tune of 28 cents per gallon. It had not been signed as of Friday afternoon. 

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