“It’s not going to change the world” Illinois suspends gas tax, economists weigh in

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MARSHALL, Ill. (WTHI) – In Illinois, gas prices are averaging over $3.50 per gallon.

On top of that, gas taxes are supposed to go up July 1.

For now, governor J.B. Pritzker is putting the gas taxes on hold to make up for these factors.

The gas tax freeze in Illinois is aimed at saving you money at the pump.

The gas tax was scheduled to go up two cents on July 1.

While this sounds good, economists are saying "not so fast."

As you drive down the highway and look at signs outside the gas station, you may be like Evan Johnson and wish you could look away.

"Honestly, I try not to pay too much attention to them. I like to drive up and down the street and see if I can save a couple of cents, but every time I fill up, I just try to save a little bit here and there," said Johnson.

Earlier this month, prices were averaging $3.60 per gallon in Illinois.

While the gas tax freeze is aiming at saving you money when you fill up, economists like Dr. Robert Guell are saying to pump the brakes.

He says you may only save around $5 per fill-up.

"That’s the cost of your favorite Starbucks latte. It’s not going to change the world, it’s not going to allow people financial freedom," said Guell.

While Guell says the change may not be earth-shattering, Johnson says people who work need the savings to get to work.

"I know I work with a lot of people who work out of town, driving 20, 30 minutes, might fill up a couple times a week. Even five dollars a trip is going to be helpful," said Johnson.

He says it seems to him that prices are going up, with no site of coming down.

"Anything right now would help, the gas prices, like I said, they keep going up. Even a little bit of relief, I think, is going to go a long way for people," said Johnson.

As far as when the gas tax might be reinstated, Dr. Guell said it could be politically motivated.

He says it may be brought back after the midterm elections.

via WTHI-TV

February 17, 2022 at 10:46PM

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