Guest Column: New York State proposes tax on gas, heating roducts – Opinions
I recently learned that a bill has been passed 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), provides:
• Increase gasoline tax by 55 cents per gallon. The new total tax on gasoline in NYS will be 98 cents, which will be the highest in the nation – 57 percent higher than the next highest state. *
• Increase taxes on natural gas, heating oil and electricity. The New York Business Council estimates the tax will increase the price of natural gas by 26 percent. **
These regressive taxes are expected to generate $ 15 billion for government coffers. These taxes also indirectly increase the cost of items such as groceries, clothing, household repair products, and other necessary items as businesses pass their increased costs on to consumers.
The new taxes will hit the middle class and working families particularly hard, and will also burden the poor and the elderly with a steady income. Some of them have to choose between paying increased heating bills and providing adequate food. The taxes will hurt downtown small businesses that support our communities. After losing jobs and businesses due to the pandemic, these increased taxes are the worst idea Albany has come up with to date.
I filed a petition against the new tax on gasoline and heating products. Anyone interested in signing it can find it on my website at www.nassaucountyny.gov/ld9. Opponents are also asked to turn to their lawmakers 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
Nassau County Legislation