Illinois Gasoline Tax May Be 43.5 Cents Per Gallon In 2025….Think About That…..


Illinoisans will see the state gas tax double starting July 1. But that’s not all: the tax will be tied to inflation, meaning it will automatically rise in future years so lawmakers are shielded from motorists’ ire.

Based on current inflation projections, the gas tax will rise almost a penny a year. Lawmakers bumped it from 19 to 38 cents starting in July. Their inflation mechanism is expected to drive the gas tax to 43.5 cents by 2025 — almost 25 cents per gallon more than now.

Advertisements

About royfmc

BS in Environmental Engineering from Northwestern University's McCormick College of Engineering MBA from DePaul University's Kellstadt's College of Business JD from DePaul University's College of Law
This entry was posted in #madigoon, #taxation, Chicago, Elections, Finance, gasoline, Illinois, Illinois Pensions, illinois politics, Illinois Tollroad, Taxation and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s