Gavin Newsom is Wanting to Add More Taxes to Our Gas Prices
Did you know that Governor Gavin Newsom wants to add an ADDITIONAL 50 cents per gallon tax in the next year ON TOP of the new Gas Tax Increase on July 1, 2024, where the state’s excise gas tax will increase by 1.9 cents to 59.6 cents a gallon to keep up with inflation?
Gas prices have recently jumped more than 50 cents over the last year in California, with LA residents now paying a staggering $6.29 per gallon. New emissions regulations under consideration by the California Air Resources Board, according to recent reports, may send prices another 47 cents higher by 2025.
Taxes, fees and regulations already make up over 30% of the costs of gasoline in California. Gavin Newsom keeps blaming “Big Oil” for his failures. This price hike will hit working Californians the hardest!
California’s crusade against energy production is kicking into high gear with a series of bills, lawsuits, and new laws that threaten to send prices even higher across the Golden State.
It’s no secret the state’s hostility towards oil and natural gas has already led to the highest gasoline prices in the country, rolling blackouts, increased foreign imports to keep the state running, and made investments in oil and natural gas production and refining increasingly risky.
According to AAA, the price for a gallon of gas is about 55% higher than the national average in California, and just last year, the state saw the second highest jump in gas prices.
The hike could come during a time where the U.S., and California, have experienced rising inflation costs coupled with a stagnant job market.
For Angelenos, this comes at a time when earning $100,000 per year is considered low income, further increasing the cost of living in one of the country’s most expensive cities.
If approved, this gas price hike (NEW TAX) could start as early as next year (2025), totaling nearly $1.15 per gallon over time and would continue until 2046.