Sponsored by:
Assemblywoman VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Assemblyman BENJIE E. WIMBERLY
District 35 (Bergen and Passaic)
SYNOPSIS
Urges President and Congress to suspend federal gas tax.
CURRENT VERSION OF TEXT
As introduced.
An Assembly Resolution urging the President and United States Congress to suspend the federal gas tax.
Whereas, Over the last year, Americans have been burdened by an increased cost of living driven by an inflation rate of 7.9 percent for the 12-month period ending February 2022, as reported in the Consumer Price Index (CPI-U) provided by Bureau of Labor Statistics (BLS) in the United States Department of Labor; and
Whereas, This increase is the largest 12-month increase in the CPI-U in roughly 40 years since the period ending January 1982; and
Whereas, The BLS also reported a 25.6 percent increase in energy prices, including a 38 percent increase in gasoline products, during this period; and
Whereas, Accordingly, the country has witnessed gasoline prices driven upward to a national average of $4.33 per gallon for regular unleaded gasoline as of March 11, 2022; and
Whereas, Taxes levied upon the sale of petroleum products represent a significant portion of the price that consumers pay at the pump with the federal gas tax amounting to 18.4 cents per gallon; and
Whereas, Many Americans continue to live in a financially precarious state in the wake of the COVID-19 pandemic and are struggling to afford gas at such a high price; and
Whereas, Low-income households are particularly sensitive to increases in the cost of energy, with a third of Americans living in what experts describe as “energy poverty”; and
Whereas, Increasing energy costs have ripple effects throughout the economy, impacting the prices of all shipped products, including essential grocery and household items; and
Whereas, Accordingly, a coalition of state governors has sent a joint letter to congressional leaders urging that action be taken to suspend the federal gas tax until the end of the year; and
Whereas, Recognizing the merits of this idea, legislation was introduced in Congress that would temporarily lift the federal gas tax while ensuring the solvency of the Highway Trust Fund, which legislation, known as the “Gas Prices Relief Act,” also includes measures to ensure that the federal gas tax holiday would benefit consumers; and
Whereas, It is altogether fitting and proper for this House to advocate on behalf of New Jersey residents and all Americans by urging the President and Congress to suspend the federal gas tax; now, therefore,
Be It Resolved by the General Assembly of the State of New Jersey:
1. This House respectfully
urges the President of the United States and the United States Congress to
suspend the federal gas tax.
2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Clerk of the General Assembly to the President and Vice-President of the United States, the Majority and Minority Leaders of the United States Senate, the Speaker and Minority Leader of the United States House of Representatives, and each member of Congress elected from this State.
STATEMENT
This resolution urges the President of the United States and the United States Congress to suspend the federal gas tax. This measure is necessary to combat the high price of gasoline, which is becoming unaffordable for many New Jersey residents and their fellow Americans.