SERINO JOINS COLLEAGUES TO SPEAK OUT AGAINST THE PROPOSED GAS TAX

ALBANY, NY – With the added pressures New York families and businesses are facing in the wake of the COVID-19 pandemic, Senator Sue Serino this week joined a press conference to condemn a proposal that would increase the cost of gasoline by fifty-five cents per gallon and increase home heating costs by a staggering 25%.

“There is never a right time for a tax increase, but I cannot think of a worse time to propose a tax increase on these necessities,” said Senator Sue Serino. “This bill will increase costs on hard working New Yorkers and penalize them for simply heating their homes, going to work, taking their kids to daycare, and so much more. The proposal raises costs on nearly every sector from healthcare and education to construction and tourism.”

Specifically, the bill (S4264), would impose a carbon tax of $55 per ton of carbon dioxide emissions, which would directly impact the cost of fuel for both vehicles and heating sources. Unsurprisingly, according to the Tax Foundation, New York already ranks among the top ten when it comes to the highest state gas taxes in the country.

If signed into law, this proposal 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 in the nation.

Serino continued saying, “Protecting our environment and encouraging renewable energy solutions needs to remain a top priority, but we need to do so in a way that does not drive New Yorkers out of state and hurt the very people we are trying to help. Instead of taxing hardworking New Yorkers out of their homes, we should be investing in meaningful incentives that will empower businesses and individuals to make the shift to more environmentally-friendly options.”

The bill is currently in the Environmental Conservation Committee.

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