North Carolina cuts state's 41-cent fuel tax through Thanksgiving, giving motorists relief at pumps

North Carolina has enacted a temporary suspension of its 41-cent state motor fuel tax, effective through November 30. The 'Relief at the Pump' bill received near-unanimous bipartisan support in a special legislative session and was signed by Democratic Governor Josh Stein. To prevent a funding shortfall for the Department of Transportation, revenue losses—estimated at over $360 million—will be offset by the state's Stabilization and Inflation Reserve account. The move comes as officials cite the impact of rising costs on residents, though it remains uncertain how quickly pump prices will reflect the full tax cut.

North Carolina has enacted a temporary suspension of its 41-cent state motor fuel tax, effective through November 30. The 'Relief at the Pump' bill received near-unanimous bipartisan support in a special legislative session and was signed by Democratic Governor Josh Stein. To prevent a funding shortfall for the Department of Transportation, revenue losses—estimated at over $360 million—will be offset by the state's Stabilization and Inflation Reserve account. The move comes as officials cite the impact of rising costs on residents, though it remains uncertain how quickly pump prices will reflect the full tax cut.