NFIB Urges Cooper, General Assembly to Suspend Fuel Tax

Date: March 15, 2022

Speaking on behalf of North Carolina’s small businesses, NFIB State Director Gregg Thompson today urged Gov. Roy Cooper and legislative leaders to suspend the state’s motor fuels tax.

“Gas prices are soaring in North Carolina,” Thompson said. “Today, the statewide average is $4.17 a gallon. That’s up from $4.03 a week ago and $3.35 a month ago. That’s bad, because the cost of fuel affects the cost of everything, from raw materials to inventory to pickups and deliveries.

“These are challenging times for North Carolina’s small businesses. The latest NFIB Small Business Optimism Index, 26 percent of small business owners nationwide said inflation is the single most important problem in operating their business, the highest reading since the third quarter of 1981.

“Several states, including Virginia and Tennessee, have already taken steps toward reducing or eliminating planned increases in their motor fuels tax, while others, like Georgia and Florida are looking to suspend their fuel tax altogether. Our members believe North Carolina should join this growing list.

“Suspending North Carolina’s 38.5 cents per gallon fuel tax would provide immediate financial relief for North Carolinians.

“Our elected leaders have been good stewards of taxpayers’ money to the point where the state has a projected budget surplus of $2.4 billion and a rainy day fund of $4.2 billion. We believe North Carolina can and should suspend the motor fuels tax as soon as possible.”

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