NYS Senate Majority calls for Gas Tax Holiday

Today, April 30, the New York State Senate Majority announces their support for a State-wide summer gas tax holiday.

Republicans in the State Senate said they will act on legislation to provide much needed relief at the gas pump by suspending New York State’s gasoline taxes during the summer travel season.

“Higher prices at the pump coupled with higher costs on everyday items like milk, bread and eggs are making it more difficult for middle-class families to make ends meet. We must take action to provide relief from these skyrocketing costs when it can help New Yorkers the most,” Senate Majority Leader Joseph L. Bruno said.

“High gas prices hurt New York’s families and businesses across the board. With the current economic situation, people are buying fewer goods, taking fewer trips, and dining out less. Lower gas prices would put more money back in the pockets of New York’s families during the summer travel season and better stimulate the economy,” said Sen. Charles J. Fuschillo, Jr (R-Merrick), a member of the Senate’s Transportation Committee.

The bill, S7594-A, sponsored by Senator Charles Fuschillo, Senator Andrew Lanza and Senator Joe Robach, will eliminate the New York State taxes on gasoline from Memorial Day weekend through Labor Day.

If the State enacts this tax relief plan, 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. Under the bill, local governments would have the option of waiving their local sales taxes of approximately 14 cents per gallon.

The bill will be structured in a way that provides a guarantee of sufficient State resources to fully fund the State’s Dedicated Highway and Bridge Trust Fund.

The Senate Majority plan would also reduce gasoline costs to local small businesses and truckers, leading to lower prices on consumer goods and services, and providing a boost to the State’s vital tourism industry.

Senate Republicans also called for a renewed emphasis on renewable energy sources that will decrease our reliance on foreign oil in the future.

Under the Senate plan, the average price of a gallon of diesel fuel would be reduced from $4.58 to $3.93.