As the price of gasoline continues to skyrocket to over $3 per gallon, Senator Charles J. Fuschillo, Jr. (8th Senate District) is calling on the Assembly to pass legislation he is cosponsoring that would save New Yorkers an estimated $320 million this year alone by capping gasoline sales tax once the price per gallon reaches $2. The New York State Senate passed the legislation earlier this year, but it has stalled in the Assembly.
"New York State must do its fair share to help provide relief at the gas pump to drivers. Gas prices have gone up almost 40 cents in the last month alone, and as the prices continue to rise, so do the amount of sales taxes drivers must pay on their gas. Governments should not be making windfall profits off of these tax revenues while the already overburdened taxpayer is forced to spend even more on gasoline," said Senator Fuschillo, a member of the Senate’s Transportation Committee. "By placing a cap on the gasoline sales tax, we would deliver real relief to our residents. The Assembly needs to pass this legislation so New Yorkers can start saving now."
Currently, sales tax revenues increase as the price of gasoline rises, further inflating the price motorists pay per gallon and enabling governments to reap a financial "windfall" in tax funds. According to AAA, the average price for a gallon of gas on Long Island is $2.966, which is up almost 40 cents from one month ago and over 65 cents above the price in April of 2005.
Under this legislation, the State would only collect its 4 percent sales tax on the first $2 paid per gallon of gasoline. County sales taxes would be similarly capped, unless the county chooses to opt out of this plan and continue collecting their full sales tax on fuel.
Senator Fuschillo has created an online petition that residents can sign to show their support for the "cap on gas tax" plan. CLICK HEREto sign the petition.
Senator Fuschillo also reminded drivers to be on the lookout for price gouging.
"Just last year, the state uncovered two local gas stations that were over inflating their gas prices, and the Attorney General needs to continue these types of investigations to ensure that consumers are not being cheated. I urge anyone who believes that a gas station is price gouging to contact the New York State Consumer Protection Board’s Gasoline Price Gouging Hotline at 1-800-214-4372," Senator Fuschillo added.
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