State board considers lowering gas excise tax

Members of the California State Board of Equalization will vote Tuesday on whether to lower the excise tax rate on gasoline by 7.5 cents during its 9:30 a.m. meeting at 5901 Green Valley Circle, Room 207, in Culver City. If adopted, the 28.5 cent excise tax will become effective on July 1 and last through June 30, 2016. Currently, drivers pay 36 cents per gallon in state excise tax. State law requires the board to set the rate for the coming fiscal year by March 1 of each year, following a complicated formula known as the “fuel tax swap.” More information and a video explanation of this process is available here.

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