State Senator John J. Bonacic (R/I/C - Mount Hope) announced that he plans to vote in favor of legislation that eliminates New York State’s gasoline taxes during the summer travel season. Senate bill 7594-A calls for the elimination of the tax from Memorial Day to Labor Day.
"If the State, federal, and local governments all temporarily suspended its taxes, New Yorkers would save 65 cents per gallon at the pump," stated Senator Bonacic. "Any amount of savings is important, especially during difficult economic times."
Senator Bonacic continued, "Every sector of our economy is impacted by high fuel prices and everyone is feeling the pinch as a result. Our food and clothing costs more, local governments may have to sacrifice services or raise property taxes due to higher fuel prices, hardworking New Yorkers are forced to pay more just to get back and forth to work, and it costs more to operate school buses, just to name a few."
If Senate bill 7594-A is signed into law, New Yorkers would save approximately 32 cents per gallon in State gasoline taxes, including 16 cents from the State’s Petroleum Business Tax, 8 cents from the State sales tax, and 8 cents from the State’s Motor Fuel Excise Tax. Furthermore, the legislation authorizes local government the option of waiving their sales taxes which is approximately 14 cents per gallon.
"While we need to do more to reign in energy prices at both the federal and State level, Senate bill 7594-A provides immediate relief to motorists. It is my hope the Assembly will take immediate action on this proposal and that the Governor signs it into law, concluded Senator Bonacic.