How does the gas guzzler tax work?

Norge Nyheter Nyheter

How does the gas guzzler tax work?
Norge Siste Nytt,Norge Overskrifter
  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 97%

The tax that sprang from the 1978 Energy Tax Act excludes pickup trucks and, because they didn't exist yet, SUVs. Is it outdated?

Quick facts about the gas guzzler tax: If you haven’t researched current models, shopped for new vehicles, or even dreamed about a high-performance car, you may have only a casual familiarity with what is known as the gas guzzler tax. It’s an excise tax the government assesses automakers for cars that don’t meet a minimum designated mileage number. For most offending models, the carmakers pass the tax along to the consumer. You will find it on the Monroney Label on the glass of new cars.

Gas guzzler tax background In the late 1970s, the U.S. Congress, in an effort to conserve fossil fuels, passed the 1978 Energy Tax Act. It awarded tax breaks to citizens and businesses employing specific renewable energy solutions to reduce the use of fossil fuels like oil and natural gas. Also included in the legislation was a blueprint to tax cars falling below the regulation’s 22.5 miles per gallon standard. Today, we know it as the Gas Guzzler Tax .

Tasked with policing the GGT, the Environmental Protection Agency determines the list of offending models. You can identify vehicles subjected to the Gas Guzzler Tax by checking out the EPA’s 2023 Fuel Economy Guide. Look for cars with “Tax” listed in the “Notes” field of the vehicle listings. Without wading too deep into the weeds, the EPA employs a more comprehensive set of tests when determining the mpg numbers it posts on the Monroney Label than it does for identifying gas guzzlers. In fact, in 2008, the EPA added three additional test cycles, for a total of five, to calculate the combined mpg we find on a vehicle’s window sticker. Those extra cycles include:

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

MarketWatch /  🏆 3. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Dodgers embrace David Peralta’s ‘freight train’ energy, even as he battles slumpDodgers embrace David Peralta’s ‘freight train’ energy, even as he battles slumpNew Dodgers outfielder David Peralta has given the team a level of newfound energy rooted in a passion for playing 'every game like it’s his last.'
Les mer »

Chinese tech companies are exploiting US green energy goals, former State Department officials warnChinese tech companies are exploiting US green energy goals, former State Department officials warnTwo former top State Department officials who served under the Trump administration are warning of China's plans to use U.S. green energy goals to their advantage.
Les mer »

Russia posted a $29B Q1 budget deficit amid falling energy revenuesRussia's energy revenues may not be able to foot its military bills for long — the country just posted a $29 billion deficit in the first quarter
Les mer »

Bitcoin’s insatiable appetite for energy is driving up pollution and costs for Americans, report findsBitcoin’s insatiable appetite for energy is driving up pollution and costs for Americans, report findsBitcoin mining has raised electricity bills and greenhouse gas emissions in the US.
Les mer »

Chinese tech companies are exploiting US green energy goals, former ambassadors warnChinese tech companies are exploiting US green energy goals, former ambassadors warnFormer U.S. Ambassadors Peter Hoekstra and Joseph Cella said Chinese companies have made an effort to take advantage of U.S. green energy goals.
Les mer »



Render Time: 2025-03-11 20:46:40