On Governor Perdue's desk today...

The 3-year old gas tax cap has been replaced with a tax floor. Gas taxes should have been reduced by 2 cents per gallon on July 1. Current law would have lowered the gas tax to 27.9 cents per gallon. When Governor Perdue signs the bill (and she is likely to sign it into law, according to her spokeswoman Chrissy Pearson), the minimum gas tax would be set at 29.9 cents up until the middle of 2011. The tax will rise to the floor next month and rise to 30.4 cents next January. This could generate $67.5 million in the next fiscal year and would be used to build highways and bridges. The gas tax is readjusted twice a year based on the wholesale price of gas.