Georgia plans to suspend state motor fuel taxes of 29 cents per gallon

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The Georgia House of Representatives gave its unanimous approval for legislation to temporarily drop the fuel tax in the state. The plan proposes to suspend the 29.1 cents-a-gallon motor fuel taxes through May 31 saving Georgia drivers about $400 million in taxes.

The move comes as the average price of a gallon of regular fuel in metro Atlanta reached $4.32 on Saturday. Now the Legislation allowing the refund will move for a vote in Senate before going to Kemp’s desk for his signature. Governor Brian Kemp said in a statement:

Because of our strong, fiscally conservative budgeting, I’m confident we will be able to provide relief to hardworking Georgians — both in the form of a tax refund and lower gas prices. With this latest measure, we are making it even more clear that in Georgia we are going to empower families to keep their money in their own pockets.

Georgia ran a $3.7 billion surplus in the budget year that ended June 30, filling its rainy day fund to the legal limit and leaving $2.3 billion in additional undesignated surplus. Kemp said the fuel proposal wouldn’t jeopardize his plan to pay $1.6 billion worth of state income tax refunds to Georgians.

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