Diane Harkey, Member, State Board of Equalization, 4th District – Orange, San Diego, San Bernardino, Imperial and Riverside Counties
For Immediate Release: June 30, 2015
Contact: Gino Folchi ,1-916-323-9794
Welcome News for 4th of July Travelers
Board Member Harkey Announces More Independence at the Pump
Sacramento – State Board of Equalization Member Diane L. Harkey today announced that the state excise tax on gasoline will drop by six cents per gallon, from 36 cents to 30 cents starting on July 1, 2015.
“The six cent gas tax decrease is positive news for families planning to travel for the 4th of July weekend,” said Board of Equalization Member Diane L. Harkey. “This tax cut means more Californians will be free to travel at a lower cost while achieving some independence from higher transportation costs,” Harkey concluded.
The Board approved the six cent tax rate reduction at its February 2015 meeting. The 30 cent per gallon rate will remain in effect until June 30, 2016.
The tax adjustment is a result of the passage of 2010 laws known as the “fuel tax swap.” The new laws were designed to lower the statewide sales tax rate on gasoline to 2.25 percent and raise the excise tax rate so that the total amount of tax revenue generated is equal to what would have been generated had the sales and use tax and excise rates remained unchanged. The six cent adjustment is due in part to the uncharacteristically low gas prices seen in the fall of 2014.
More information on California’s gas tax can be viewed here.
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Board Member Diane Harkey was elected to the Board of Equalization in November 2014 to represent the Fourth Equalization District, which includes approximately 9.5 million Californians located in the counties of Orange, Riverside, San Diego, Imperial, and a portion of San Bernardino County. Previously, Ms. Harkey served in the California State Assembly from 2008 to 2014. As a Member of the State Assembly, she served as Vice Chair for the Assembly Committees on Revenue and Taxation and Appropriations. Ms. Harkey graduated Cum Laude with a degree in Economics from the University of California, Irvine. For more information, visit www.boe.ca.gov/harkey