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Gas prices could soar 55 cents per gallon if New York enacts Climate and Community Investment Act

What happens if New York enacts The Climate and Community Investment Act?

The measure, which has renewed focus among Republican lawmakers, would place a new 55 cent tax on every gallon of gas sold in the state. It’s part of the broader effort to achieve the state’s climate change goals and policies.

The state’s current gas tax is over 46 cents per gallon. If the legislation were passed and enacted New York would have the highest gas tax in the U.S. The legislation would also increase the taxes on heating oil, propane, and natural gas.

Those costs are already expected to rise by 25% this winter without the legislation.

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Republicans say a ‘new’ gas tax is too much, calls for suspension of existing one

“New York’s out-of-control Democrat supermajorities enacted a state budget this year raising taxes by nearly five billion dollars and they’ll just keep looking for more. It will be an unending search for more tax dollars to afford more spending and every taxpayer will pay the price at the pump, to heat homes, and in a lot of other places. The ink on the new state budget was barely dry and the Democrats were already eyeing their next tax-hike opportunities, including a potential fifty-five-cents-per-gallon gas tax to help generate revenue to implement an unsustainable, impractical climate change agenda,” Sen. Tom O’Mara, who represents the Southern Tier said in a statement. “The ongoing implementation of these regressive taxes would leave lower- and middle-income families and workers, motorists, truckers, manufacturers and other industries, and seniors among the hardest hit.”

Republicans called on Democrats, including Governor Kathy Hochul to suspend the state’s current gas tax.