Gas Prices Set to Skyrocket in New York if New Bill Passes
Thought filling up at the pump was getting expensive? It could soon cost even more.
Gas prices have been soaring in the Hudson Valley and New York State. Multiple reports have come out that cover how much prices are rising not only in New York but also in the U.S. If a new proposed bill passes, gas prices in New York could more than double.
According to WHEC, the Climate and Community Investment Act calls for an increased tax on gas, heating oil, and propane. The bill would add a new tax of $55 for every ton of carbon dioxide emissions. This would translate to a 127% increase in gasoline taxes, which could mean an increase of 55 cents to 98 cents a gallon. This proposed bill would also increase the cost of home heating oil and propane by 25%. If this bill were to pass, it would impose the highest gasoline taxes in the U.S.
WHEC reports that this bill is being pushed by primarily democrats and there is strong Republican opposition. Sponsors of the bill say the money from these increased taxes would be used for green energy projects, community groups, and go to low-income New Yorkers. They also say that it will help communities that have been affected by the loss of fossil-fuel-related jobs. Republicans, however, say the bill is an attack on low-income New Yorkers.
The bill has already gone before a hearing in the New York State Senate last week, according to WHEC. At this time, it is unclear if or when it will go for a vote.