High shipping costs, rising energy costs, a shortage of materials, elevated commodity prices and rising wages have driven national and state-wide inflation to record levels.
"I was thrilled to see Senator Kelly and Senator Hassan at the national level, put forward a bill to suspend the national gas tax that saves people a few cents a gallon," Polis said. "We're trying to do a similar thing here in Colorado to avoid a two-cent a gallon fee on gas as well as trying to cut fees on a lot of other services that people need."
Colorado Governor Jared Polis speaks at a news conference in Boulder, Colorado, U.S. December 31, 2021. REUTERS/Nathan Frandino Polis fought to pass the state's gas tax, only to argue that the tax need to be delayed in order to stop inflation from running out of control. He argued that "now’s not the time" to increase the gas tax. "What we got in that bill was lowering vehicle registration fees in Colorado by $11.50," he explained. "We want to continue that reduction of $11.50 in vehicle registration fees and of course we've always been supportive of cutting the gas tax.
The national inflation rate hit 7.5% by the end of January 2022, marking the highest level of inflation in the United States in 40 years. The highest levels have been in the Mountain West – including the states of Montana, Idaho, Wyoming, Utah, Nevada, Colorado, New Mexico and Arizona – which is suffering a roughly 8.6% inflation rate.
Denver-area inflation on all items exceeds the U.S. average: Inflation excluding food and energy comes in a little under the national average, but still hits around 7%, according to U.S. Bureau of Labor statistics.cited high shipping costs, rising energy costs, a shortage of materials, elevated commodity prices and rising wages as the causes of inflation.
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