Cutting gas taxes is the wrong fix for high gas prices
Starting today (June 1), drivers in New York state will not pay state taxes on gasoline until the end of 2022, state officials announced. The state is joining at least three others that have cut taxes to provide relief from record-high gas prices, brought on by turmoil in the global oil market caused by the war in Ukraine.
But gas tax “holidays” likely won’t have their stated impact. They work better as a way for politicians to assuage disgruntled voters than as a real solution to high gas prices.