Update on Gas Tax Repeal | AccountingWEB

Update on Gas Tax Repeal

Here's an update to our Gas Tax story we ran earlier this week.

The Senate gave its initial nod to suspending the tax on gasoline from mid-April to the end of the year, but according to sources, the issue is not resolved until the Senate takes a final vote, and of course, having the House of Representatives also approve the measure.

The hold-up may be Senate Minority Leader Tom Daschle, who stands opposed to repealing the tax because he believes it would take money away from the highway fund. The fund is the recipient of any tax received on gas.

The Senate is expected to take a final vote sometime the week of May 3.

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