Gas tax holiday begins today in Connecticut
BERLIN, CT (WFSB) – April 1 was the day the state suspended its 25-cent excise tax on gas.
Lawmakers said the move will save people around $3 when they fill up.
Gov. Ned Lamont participated in a news conference to talk about it at 10 a.m. on Friday. He signed the emergency legislation.
Republicans and Democrats voted overwhelmingly in favor of it.
“Connecticut families are getting slammed by inflation especially at the pump,” Lamont said. “While 47 other states are still studying what to do about it, as of right now, working on a bi-partisan basis, a 25 cent cut per gallon in your taxes [should help].”
According to AAA, Connecticut’s average price per gallon was $4.29 on Thursday.
“It’s a great first step. We look forward to having more conversations and working together in a bipartisan manner moving forward to continue provide relief for Connecticut families,” said Senator Paul Formica (R-Niantic).
Friday, it was expected to go lower.
Meanwhile, President Joe Biden took historic measures to lower prices from the federal level.
Over the course of six months, Biden said he will release 1 million barrels of oil per day from the strategic petroleum reserve.
The White House said it will be the biggest release in the reserve’s history. While the price is expected to drop further, exactly how much is still unknown.
“We have to keep in mind, there are a lot of geopolitical tensions happening right now,” said Tracy Noble, AAA spokesperson. “Oil is a very volatile market. And we don’t know the exact impact that’s going to have.”
In Connecticut, drivers will feel relief from the state’s excise tax through June 30. Plus, commuters will have suspended bus fares for public transit for 3 months.
The tax break doesn’t include diesel fuel, which independent truckers were not happy about.
There has been pushback from gas stations, mainly smaller ones that haven’t used up what they have in their tanks now, which was more expensive.
Those stations may wait a few days before dropping prices.
Drivers Channel 3 spoke with said they were looking forward to the lower prices.
“I can’t believe it. Every day gas prices are changing. And so when I was driving over here and I saw this price I said I am going to get some gas,” said Sabrina Reynolds of Bloomfield.
“It may be an election year gimmick but at the same time it’s helping us out a little bit, even if it’s just a little, every little bit helps,” said Dan Hall of South Windsor.
On March 11, Connecticut set a record $4.48 per gallon.
There could be more tax breaks to come.
Gov. Lamont and Democrats are pushing to lower mill rates and expand property tax credits.
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