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Created with Fabric.js 1.4.5 Old vs. New Gas Tax Flat Rate: GasolineDiesel Increase by _____ each year Old New 19-cent tax15-cent tax 0.2% '14 '15 '16 '18 Tax created to cultivate revenue to improve Michigan roads. '17 Will begin in April 2015 until 2018 Flat 19-cent tax If one buys five gallons of gas at 2.75 a week... If one buys five gallons of gas at 2.81 a week... '15 '14 Under the new gas tax... One would pay $13.75 a week.Over the course of a year one would pay $715. Of that $715, $135.85 goes to the state of Michigan. 25-cent tax If one buys five gallons of gas at 2.87 a week... One would pay $14.35 a week.Over the course of a year one would pay $746.2 '16 Of that $746.2, $231.32 goesto the state of Michigan. If one buys five gallons of gas at 2.92 a week... '17 31-cent tax 36-cent tax One would pay $14.60 a week.Over the course of a year one would pay $759.2 Of that $759.2, $273.31 goesto the state of Michigan. If one buys five gallons of gas at 2.97 a week... '18 41-cent tax One would pay $14.85 a week.Over the course of a year one would pay $772.2 Of that $772.2, $316.60 goesto the state of Michigan. The expected revenue to be generated is estimated at $1.4 billion dollars. These numbers are calculated from todays current wholesale price of gasoline: $2.54. One would pay $14.05 a week.Over the course of a year one would pay $730.6 Of that $730.6, $182.65 goesto the state of Michigan. To compensate for the tax hike, the 6% sales tax will go. Which may affect school funding.
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