Gov hopeful Cunningham would suspend South Carolina gas tax

gov hopeful cunningham would suspend south carolina gas tax

Sumary of Gov hopeful Cunningham would suspend South Carolina gas tax:

  • (AP) — As pandemic-related supply shortages drive gas prices to record highs across the country, a Democrat seeking to become South Carolina’s next governor is suggesting a suspension of the state’s gas tax as a way to alleviate cost burdens at the pump.
  • Joe Cunningham previewed his proposal in an interview with The Associated Press, saying he’d utilize federal relief aid and the state’s budget surplus to keep tax-funded infrastructure projects on track.
  • Cunningham said his suspension could save South Carolina drivers about $5 for each fill up of a 20-gallon tank.
  • The national average for a gallon of regular gasoline decreased by a penny last week to $3.41, according to the AAA, but the agency warned that consumer prices would likely stay high as long as oil prices remain higher than $80 per barrel.
  • The gas tax had been debated for decades before finally becoming law as a way to fund billions in infrastructure projects.
  • To pay for the tax shortfall while keeping those efforts on track, Cunningham said he’d propose using federal pandemic relief money, as well as some state funding.
  • South Carolina’s Board of Economic Advisers said last week that state lawmakers would have nearly $1 billion more to spend this budget year than expected, thanks to a quick recovery from the economic shock of the pandemic, and people spending money much faster than experts predicted.
  • The windfall boosts the money controlled by the General Assembly to nearly $11 billion, not counting the roughly $3 billion in federal COVID-19 relief money coming to South Carolina.

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