An unexpected surge in gas prices has caused one Congressman to formally request that the IRS raise this year’s mileage reimbursement rate. What are the chances it’ll happen?
Congressman Sam Johnson (R-Texas), a member of the House Way and Means Committee, recently sent a letter to the IRS and asked the agency to raise mileage rates to reflect the recent spike in prices at the pump.
According to Johnson, taxpayers and small businesses “deserve rates that reflect the current cost of travel.”
The Congressman followed his letter by making a floor speech at the U.S. House on March 15. You can watch his appeal to the IRS for lower gas prices here.
Since the IRS announced the 2011 mileage reimbursement rates (51 cents for business travel; the medical and moving rate is 19 cents), the U.S. Energy Information Administration (EIA) says regular gas prices have risen almost 20%.
Right now, the average national cost for a gallon of gasoline is $3.52, according to the EIA.