Senator Reineke Applauds Gas Tax Suspension

COLUMBUS— Ohio Senator Bill Reineke (R- Tiffin) applauded the passage of a bill suspending Ohio's 38.5 cent per gallon gas tax and 47 cent per gallon diesel tax for 90 days.

Ohioans are estimated to save more than $725 million in fuel taxes at the pump.

"We're all feeling the burden of high gas prices right now, and we saw a way to provide real, tangible relief to Ohioans," said Sen. Reineke. "At the end of the day, more of your money should stay in your wallet. That's why we wanted to work together swiftly to reduce the tax burden on hardworking Ohioans."

The MFT suspension covers gas and diesel only.

For accounting purposes the MFT will be reduced to 1/100th of a cent per gallon which also protects certain border counties from seeing unintended tax consequences due to neighboring states levying their own tax on fuel sold into Ohio if no other tax is levied.

Highway construction projects and local governments will not be negatively affected by the gas tax suspension as budget surpluses from this fiscal year will cover the tax holiday.

The state's "Rainy Day Fund" otherwise known as the Budget Stabilization Fund will not be needed.

"We've passed the flat income tax, over $3 billion in property tax relief, and now the 90-day gas tax suspension," said Sen. Reineke. "We're always looking for ways to make Ohio a better and more affordable place to live, work, and build a life."

Read more about the legislation here.