Senator Anthony Palumbo (R,C-New Suffolk) today blasted the so-called climate and community investment act, a proposal being advanced by Albany Democrats that would increase the cost of gas by as much as fifty-five cents per gallon and increase home heating costs by more than twenty-five percent.
“New York is already home to some of the highest gas taxes in the nation with residents having little to show from paying these higher rates,” said Senator Anthony Palumbo. “Now, Senate Democrats want to dramatically increase these already costly taxes--placing new, and excessive burdens on families and businesses throughout Long Island at the worst possible time."
The legislation would impose a carbon tax of $55 per ton of fossil fuel emissions in order to reach renewable energy mandates under the Climate Leadership and Community Protection Act, passed by the Legislature in 2019.
According to the Tax Foundation, New York currently has the 7th highest gas tax in the country, at 43.12 centers per gallon with California currently the highest at 62.47 cents per gallon. This legislation would raise New York’s tax to 98.12 cents per gallon, an increase of more than 127 percent, and would make New York’s gas tax more than 57 percent higher than any other state. New York State has repeatedly been named as one of the worst business tax climates in the nation by the Tax Foundation.