24 Apr 2008

CNMI lawmaker proposes a fuel tax holiday

11:52 am on 24 April 2008

A local lawmaker in the Commonwealth of the Marianas Islands has proposed to reduce gas prices by suspending the liquid fuel tax for two days a month.

Representative Ray Yumul, the sponsor of the bill, says the measure would provide immediate relief from the skyrocketing cost of fuel in the Northern Marianas.

Yumul's proposal of a gas tax holiday is not unique - Sen. John McCain, the Republican candidate for U.S. president, last week floated a similar idea as part of his economic plan.

Under Yumul's bill, the CNMI government will be required to waive the fuel tax for two days each month if the price of retail fuel at the pump is over $4 per gallon.

The gas tax holidays would be observed for a 24-hour period on the second and third Friday of each month.