NC lawmakers agree to cut state gas tax, but savings will be less than if they did nothing

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RALEIGH, North Carolina — North Carolina lawmakers are agreeing to a slow drop in the state gas tax, meaning less savings for consumers than if they did nothing after deciding a sharp cut would threaten road projects.

Negotiators in the state House and Senate said Friday if the legislation is approved next week, the gas tax will fall on April 1 from the current 37.5 cents per gallon rate to 36 cents for the rest of 2015. The state tax rate would fall again by a penny in January and then to 34 cents a gallon in July 2016.

Legislative analysts estimated the tax pegged to wholesale gas prices could likely have dropped below 30 cents a gallon.

Lawmakers said the reduced tax cut provides stability for road-building revenues so construction projects are completed.

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