New York Gov. Kathy Hochul (D) said Reducing the State’s Gas Tax, was an Option, she and Legislators are considering in response to record High Gas prices.
The Governor is currently negotiating the State's 2023 Budget, which is due at the end of the month, the start of the Stste's New Fiscal year.
“It's on the table,” Hochul said at a Press Conference on Friday. “We're having those conversations. Again, the timing of the budget is perfect to address this.”
The Average gallon of Gas in New York costs $4.349, according to AAA. The Highest ever Average was recorded, earlier this month, at $4.466 on March 10th.
New York State Taxes account for about $0.33 per gallon.
Fully cutting the Tax would result in between $3 to $6 relief per Full tank of Gas for most Car owners.
It’s unlikely the State will scrap the Taxes outright, because Road Repair and Infrastructure Projects rely on the Taxes for Funding.
State Democrats have Proposed cutting the Tax down to roughly $0.17 per gallon. That would provide between $2 and $3 of relief per full Tank of Gas for most vehicles.
Hochul said she’s still evaluating whether a Reduction in Tax would actually provide noticeable Relief for New Yorkers.
Some Legislators have suggested Tax Rebates as an alternative.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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