New York lawmakers are proposing a new way to tax you. Take a close look at the proposed carbon tax, now pending in the New York State Legislature as Senate Bill SS3336, and the harsh truth will be …
New York lawmakers are proposing a new way to tax you. Take a close look at the proposed carbon tax, now pending in the New York State Legislature as Senate Bill SS3336, and the harsh truth will be revealed: This is an onerous bill that would quickly take a huge chunk of money from your wallet or purse and cost you tens of thousands of dollars in only 10 years.
It is imperative that this dangerous, expensive proposal be stopped.
New York State’s Climate Leadership and Community Protection Act was passed in 2019. The vision, to create cleaner energy, was admirable. However, the carbon tax bill is not the way to achieve those objectives.
New York State already has the highest taxes in the nation. Add in the carbon tax, and the economic impacts can be even more crushing—particularly for families of modest means and those already walloped by the COVID-19 pandemic who are struggling to achieve financial stability.
In short, everyone would pay more when using gasoline, electricity, propane, natural gas and heating oil. Going for a drive? The costs jump. Turning on lights or air conditioning? The costs jump. Heating your house or even running your lawnmower? The costs jump. Here’s a closer look:
For gasoline, the carbon tax would be 34 cents per gallon, rising to $1.66 in additional taxes, for every single gallon, in 10 years. The current state average price of a gallon of gas is $2.87. That would soar, with the 34-cent carbon tax, to $3.21 a gallon. Put 15 gallons of gas in your vehicle, and you’re shelling out an extra $5.10. If you fill up four times a month, that’s more than $20 a month, and more than $244 a year.
For heating, the additional costs would be 39 cents per gallon for heating oil, rising to $1.90 per gallon in 10 years. If you fill your 275-gallon oil tank six times a winter and pay the initial 39-cent-per-gallon carbon tax, the extra cost is almost $650.
Twenty-two cents per gallon for propane to start, rising to $1.07 per gallon in 10 years.
Twenty cents per cubic foot of natural gas to start, rising to $1 per gallon in 10 years.
For electricity, a quarter of a cent per kilowatt-hour to start, and 1.2 cents for each kilowatt-hour in 10 years. If you use 800 kilowatt-hours per month, the carbon tax would initially cost you $2 each month.
New York has seen significant population losses for a decade, exceeding the losses in other states, according to PolitiFact, a nonprofit journalism-watchdog organization. The carbon tax would be yet another reason for residents and businesses to flee our beautiful state. Think about the potential impact: lost jobs, companies closing, loss of precious tax revenue that helps pay for municipal services. And yes, costs passed on to consumers, who again would have to dig deeper to meet ends meet.
The carbon tax bill has only short-term pain and, very likely, a long-term sacrifice. We need energy policies that lead to prosperous futures. But those policies should not and cannot crush residents. The carbon tax, if allowed to pass, would do just that. Please help stop it now. Contact your lawmakers to share your opinion and visit www.StopNYCarbonTax.com to learn more.
Randy Resnick is a prominent member of Sullivan County’s business community. The Randy Resnick Companies’ holdings include Resnick Energy, a fuel-oil supplier; Penguin Energy, which provides heating oil; Rez-Bear Propane; Black Bear Fuel, which provides fuel oil, heating and air conditioning services; Bernie’s Holiday Restaurant/BHR; BHR Caterers; Crust Italian Eatery; Liberty Market, a grocery; and Rezwear Corp., which produces facial masks to protect against COVID-19.
This article was updated on June 1 to correct an error in arithmetic that indicated that the cost of electricity would cost an additional $200 a month with the carbon tax. At 1/4 of a cent per kilowatt-hour, the initial increase is $2/month.