Georgians Brace for Economic Turbulence as Governor Kemp Takes Bold Action
In response to a 40-year-high inflation rate and prevailing economic challenges, Georgia Governor Brian Kemp has issued a state of emergency declaration. The executive order will remain in force until 11:59 p.m. on October 12, 2023 and is expected to impact consumer prices.
According to Governor Kemp's office, Georgians are grappling with the adverse economic effects of "policies emanating from Washington, D.C." Governor Kemp asserts that temporarily suspending the state's excise tax on motor and locomotive fuel will directly alleviate financial burdens for families statewide.
"From runaway federal spending to policies that stifle domestic energy production, all Bidenomics has done is deplete the pockets of the middle class," Governor Brian Kemp declared. "As high prices continue to strain family budgets, hardworking Georgians deserve tangible relief, and that's why I signed an executive order today to deliver it directly at the pump. Collaborating with our partners in the General Assembly, we will continue to assist Georgians in weathering the economic challenges brought about by this president, his administration, and their supporters in Congress."
The suspension of the excise tax translates to significant savings for Georgians, amounting to 31.2 cents per gallon of gasoline and 35 cents per gallon of diesel fuel. During the gas tax suspension from March through December of last year in 2022, Georgians collectively saved approximately $1.7 billion at the pump.
Speaker Jon Burns applauded Governor Kemp's move, stating, "I applaud Governor Kemp for suspending motor fuel taxes to keep our citizens and our economy moving forward,"
"Georgia's prosperity is no accident – it results from conservative policies implemented to maintain Georgia as the nation's premier state for business," he continued.
As of August, Americans are spending $709 more per month than they were two years ago, and $202 more per month than just last year. Those numbers are according to Governor Kemp's office, citing data from Moody's Analytics.
According to AAA, the average price for a gallon of regular gasoline in Georgia currently stands at $3.57, marking a notable increase from the $3.24 observed a year ago.