Earlier this week, Senate Republicans put forth legislation (S.7594-B) which would create a gas tax "holiday" from Memorial Day to Labor Day. I and many of my Democratic colleagues voted against this legislation because it is bad fiscal and environmental policy that will only result in windfall profits for oil companies and no real relief for consumers. My colleagues and I understand New Yorkers have been hit hard by rising fuel costs. However, what we need are not gimmicks, but carefully thought out policies that will create long-term solutions to the growing energy crisis facing our state and decrease our dependence on foreign oil.

S.7594-B, introduced by Senator Andrew Lanza (R-Staten Island), would exempt gasoline and diesel from the State's excise tax, Sales Tax, and Petroleum Business Tax, from May 23, 2008 to September 2, 2008. These taxes are currently used to provide funds for highways, roads, bridges, and mass transit. By suspending the taxes the Senate Republicans will create an estimated $600 million budget gap for these necessary services.  read more »