ROANOKE, Va. – Commonwealth legislators will decide in early April if they will eliminate the gas tax temporarily to help Virginians save money.
But will the gas tax holiday really help you at the pump?
The gas tax rate is about 26 cents per gallon.
Dr. Alice Kassens, Roanoke College John S. Shannon Professor of Economics, said if the gas tax holiday is put into place, Virginians will only save about $5 to $6 per fill-up.
Governor Glenn Youngkin said they have a surplus in transportation funds and the state can afford to take the more than $400 million cut.
Kassens said it will just give people a little more reason to smile at the pump.
“You know will it change people’s lives very much? No. But I don’t think it has much of a downside either. So why not?” she said.
If the General Assembly approves it, the gas tax holiday will start on April 4th and last for 90 days.