House Republican Press Release

 

 

 

May 14, 2007

Press Office: 860-240-8700

 

House GOP Proposes Gas Tax Holiday

 

Klarides Supports 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.  Deputy Republican Leader Themis Klarides (R-Derby) joined House Republican Leader Larry Cafero (R- Norwalk) today as he called for the state gas tax to be repealed this year between from Memorial Day, May 28th, until Labor Day, September 3rd, 2007, creating a one-time gas tax holiday.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 rank seventh highest in the nation among all the states, and our combined federal and state gas taxes are the third highest in the nation,” said Klarides.  “As we head into the summer months, and families begin planning their vacations, Connecticut motorists ought to get the relief we are proposing today.”

 

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. 

 

Klarides 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. 

 

“When House Republicans offered their ‘No Tax Increase’ budget in April, we based it off of lower surplus figures,” said Klarides.  “The gas tax holiday would not take funds away from any current or future programs, nor would it impact 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.