Indiana gas tax increases to record high in July

INDIANAPOLIS — Indiana noticed one other enhance within the state gasoline tax amid guarantees of inflation reduction — together with a proposal to situation direct funds to Indiana residents later this month.

The state’s residents pays 61 cents per gallon in taxes on gasoline, the state Division of Income introduced Monday — one other bounce from June’s record-high 56 cents per gallon. Gas prices have been anticipated to proceed to rise in July, elevated largely due to Russia’s invasion of Ukraine.

The gasoline tax enhance emerged alongside calls from Indiana Democrats to droop the tax to help residents reeling from the worst inflation in 40 years.

However Republicans say the gasoline tax ought to stay in place to fund the state’s freeway building program. They as a substitute have referred to as for steadily decreasing Indiana’s particular person revenue tax fee over the subsequent seven years as a type of reduction.

The state’s common worth per gallon of standard gasoline was roughly $5.13 on Monday, above the nationwide common of about $4.98, in response to AAA.

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Indiana Republican Gov. Eric Holcomb proposed an inflation reduction plan June 9 that may distribute funds of $225 to residents underneath the state’s automated taxpayer refund regulation. This builds on the preliminary $125 funds taxpayers acquired final month underneath the identical coverage.

Eligible residents would obtain a mixed complete of about $350 in funds, with a married couple submitting collectively receiving about $700, Holcomb mentioned.

Holcomb mentioned he would name for a particular legislative session earlier than the top of June so legislators can enact this proposal.

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