House Republican Press Release

 

 

 

May 16, 2007

Press Office: 860-240-8700

 

Candelora, House GOP Propose Gas Tax Holiday

 

Proposal to Offer Relief from Gas Tax for Summer Months

 

HARTFORD- With retail gasoline prices jumping within the past few weeks, House Republicans are proposing to offer temporary relief from Connecticut’s high gasoline tax for Connecticut motorists.  State Representative Vincent Candelora (R-North Branford) joined House Republican Leader Larry Cafero (R- Norwalk) as he called for the state gas tax to be repealed this year between from Memorial Day, May 28th, until Labor Day, September 3rd, 2007, creating a one-time gas tax holiday. 

 

“Connecticut’s gas prices are among the highest in the nation,” said Representative Candelora.  “With a surplus approaching $900 million, there is really no excuse for not giving back money to state motorists who are clearly overtaxed.  As the summer months approach, and gas prices climb, Connecticut residents need this relief.”

 

It is estimated that the tax cuts would save drivers about $40 million per month, or a little more than $120 million for the duration of the summer driving period.  Last week, the non-partisan Office of Fiscal Analysis revised revenue projections to show that Connecticut now has a surplus of $846 this year, easily covering the lost revenue to the state. 

 

Candelora said that a temporary repeal of state taxes would create important savings for motorists.  Connecticut’s gasoline tax is 25 cents per gallon, while the federal gasoline tax is 18.4 cents per gallon. 

With a suspended gas tax, the driver of a compact car with a 13.2 gallon tank would save about $3.30 on every fill-up.  The driver of an SUV with a 22.5 gallon tank would save $5.63 when they fill their tank. 

 

“The House Republicans based their ‘No Tax Increase’ budget in April on lower surplus figures,” said Candelora.  “The gas tax holiday doesn’t take funds away from any current or future programs, and it doesn’t take any money away from the Special Transportation Fund used to pay for road and bridge projects and upkeep.”

 

This session of the Connecticut General Assembly adjourns at midnight June 6th, 2007.