We Asked 4 Experts: Would Gas Tax Breaks Make A Big Difference When Prices Are Skyrocketing?
With gasoline prices trending over US$4 per gallon nationwide, politicians are feeling the heat. In response, Maryland and Georgia have temporarily waived their state gasoline taxes to reduce the burden on consumers. Other states are considering similar actions, and some members of Congress have called for suspending the federal gas tax. The Conversation asked four experts whether gas tax waivers are an effective way to provide economic relief to U.S. households, and what other impacts these measures could have.
Not a windfall
Jay Zagorsky, Senior Lecturer in Markets, Public Policy and Law, Boston University
As an economist who has studied gasoline prices, I doubt that waiving gas taxes will meaningfully lower prices at the pump. Russia’s invasion of Ukraine boosted gasoline prices dramat...