Governor Glenn Youngkin today praised delegates in the House Finance Committee for their important procedural vote to move his gas tax proposal to the House Appropriations Committee, following testimony from everyday Virginians about the impact of rising prices on their budgets.
“Today’s vote was an important step in moving our proposal to lower gas prices for Virginians feeling pain at the pump for too long,” said Governor Youngkin. We know there’s plenty of money available to bring some relief to Virginians now as we head into these busy summer months.”
Governor Glenn Youngkin announced that he would send a bill to the General Assembly in the upcoming special session to suspend Virginia’s gas tax for 3 months. The Governor proposes using over $437 million in unanticipated transportation revenues to support the gas tax holiday. Data released by the Bureau of Labor Statistics this week showed a 38.8% surge, year over year, in the gasoline index, and inflation on all items is at a 40-year high.
“These rising gas prices are hurting Virginians, and we need to do something about it,” Governor Youngkin said.
Did you know that last year Virginia’s tax on gasoline increased 5 cents per gallon, on July 1, 2020, from 24.4 cents to 29.4 cents?
Did you know that this year Virginia’s tax on gasoline is increasing again, by another 5 cents per gallon on July 1, 2021, to 34.4 cents? That is a 40% increase in one year.
Also, starting next year the Virginia gasoline tax will automatically increase with inflation every July 1st.