Recently I learned that a bill has been introduced in the New York State Assembly and Senate, that will dramatically increase the tax on gasoline and the tax on products used to heat our homes. The proposed law entitled “The Climate and Community Investment Act” (S4264A/ A6967) will do the following:
• Increase the gasoline tax by 55 cents per gallon. The new total tax on gasoline in NYS will be 98 cents, which will be the highest the nation – 57 percent higher than the next highest state.*
• Increase the taxes on natural gas, fuel oil and electricity. The New York Business Council estimates that the tax will raise the price of natural gas by 26 percent.**
These regressive taxes are expected to generate $15 billion for state coffers. These taxes will also indirectly raise the costs of items such as groceries, clothing, home repair products and other necessary items, as businesses pass along their increased costs to consumers.
The new taxes will hit middle class and working families particularly hard and will place an additional burden on the poor and seniors on a fixed income, some of whom will have to choose between paying for increased heating costs and putting enough food on the table. The taxes will hurt small downtown businesses that support our communities. Coming on the heels of the loss of jobs and business due to the pandemic, these increased taxes are the worst idea yet coming out of Albany.
I have created a petition in opposition to the new tax on gasoline and heating products. Anyone interested in signing it can find it on my website at: www.nassaucountyny.gov/ld9. Those opposed are also encouraged to contact their state legislators and tell them to vote no on S4264A/ A6967.
*https://taxfoundation.org/state-gas-tax-rates-2020/
**https://www.bcnys.org/memo/s4264-parker-a6967-cahill
Richard J. Nicolello
Presiding Officer
Nassau County Legislature
