Connecticut House Bill HB06093

Connecticut 2013 Regular Session

• Introduced: 1/25/13
• Refer: 1/25/13

Caption

An Act Concerning The Petroleum Products Gross Earnings Tax.

Impact

If enacted, HB06093 would significantly alter the framework of the petroleum products tax by ensuring that the state does not gain a financial windfall when gas prices rise. This aims to create a more predictable and manageable tax environment for consumers and businesses alike. The bill's introduction indicates a recognition of the economic pressures placed on residents when gas prices increase, positioning the state as a protector of taxpayer interest amid changing market conditions.

Summary

House Bill 06093 proposes an amendment to the petroleum products gross earnings tax by instituting a fixed tax per gallon. This change aims to stabilize the state revenue derived from gasoline sales, eliminating the current system where the state's earnings can increase disproportionately during spikes in gas prices. The overarching purpose of this bill is to protect taxpayers from unforeseen financial burdens that can arise due to fluctuations in fuel costs.

Contention

Discussion around HB06093 may revolve around its potential impact on state revenue. Supporters are likely to argue that the fixed tax will provide predictability and fairness for consumers, while detractors may contend that this approach could limit state funding during times of high fuel prices. The debate may encompass broader themes of taxation fairness, fiscal responsibility, and the role of government in mitigating market-induced volatility.