Cutting the Gas Tax, Giving Teachers a Tax Deduction
Maintaining a strong transportation system is crucial to preserving a growing and productive economy. North Carolinian's deserve roads and bridges that safely connect them to their jobs and families, and businesses need high quality infrastructure to move people and products and keep our economy thriving.
But the lack of certainty in North Carolina's gas tax makes it very difficult for the state to plan and fund road projects. One of our state's most volatile revenue streams, the gas tax, makes up nearly 70 percent of the fund to maintain roads and bridges and approximately 60 percent of the state Department of Transportation's budget.
That's why, with wide-ranging support, the Senate passed a bipartisan bill this week to cut and freeze the gas tax to 35 cents per gallon effective March 1. The bill changes how the gas tax is calculated, providing much-needed funding stability to help protect critical transportation projects. It also provides a tax deduction for teachers who purchase classroom supplies out of their own pockets.
Members of the business and transportation communities - including the North Carolina Chamber and AAA Carolinas - along with local governments have all come out in support of the bill.
This balanced plan provides tax relief for all North Carolina drivers while helping ensure the state has the long-term resources necessary to build and maintain safe roadways, bridges and economic corridors.
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