Massachusetts Residents Want Answers Regarding A Gas Tax Holiday
There is no doubt that high gas prices have struck a nerve for all Berkshire residents and in our surrounding areas in the tri-state region. Reports indicate the price at the pump has shown a slight decline, but let's face it: $4.95 to $4.99 a gallon is STILL a hardship as people are trying to maneuver their tight budgets just to keep added fuel to their vehicles. Lately, I've noticed more people riding their bicycles, walking and opting for public transportation (something I should consider since BRTA serves my community on a daily basis but with working early shifts for over a week (that option was not in the cards) i had no choice but to drive from point A to point B.
You might say that relief is probably on it's way: There are talks that Washington D.C. wants to implement a so-called "gas tax holiday" nationwide as President Biden is trying to curb the ongoing problem of inflation, which has hit it's highest peak in 4 decades. As the upcoming 4th of July holiday is just around the corner, there is a chance motorists could save up to 20 cents a gallon, but will this move help or hurt the cause.
Keep in mind the oil companies are STILL wreaking havoc as they should be passing the tax savings to you, the consumer but is that really happening? My guess is NO as corporate greed has truly put a crimp on people's spending habits. Another variable is the gas tax goes towards improving nationwide infrastructure. According to Kiplinger, an estimated $15 billion would be lost in the shuffle if this measure is passed.
There were talks to dip in to the U.S. Strategic Reserve which has already occurred as ethanol blending seems to be a key factor in lowering the price, but in the past that drove prices up! We are in a state of confusion posing the all-important question: Why we are NOT saving any money from this move, but with everything going on, we need to pack our patience which is running thin for all, present company included.
An option of issuing gas rebate cards to all drivers is also being discussed at The Nation's Capital, but that has not been etched in stone as of yet as President Biden will meet with oil company executives later this week to discuss this option. We will take any form of savings, but something has to be done to LOWER gas prices which continue to put a choke hold on everyone that uses their vehicles for daily transportation. We'll keep you posted on the latest developments.
(Some background information on this article was obtained from WWLP-TV, 22 News)
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