Connecticut Senate Bill SB00102

Connecticut 2024 Regular Session

• Introduced: 2/14/24
• Refer: 2/14/24

Caption

An Act Concerning The Rate Of Tax For Diesel Fuel.

Impact

If enacted, SB00102 will substantially alter the existing tax framework for diesel fuel. The legislation will modify chapter 227 of the general statutes, specifically targeting the fiscal obligations of consumers and businesses that rely heavily on diesel for transportation. Supporters of the bill argue that this tax reduction will enhance the competitiveness of local businesses that depend on diesel fuel, promote economic growth, and reduce operating costs, effectively benefiting consumers through lower prices for goods and services. As such, it is projected to have a widespread economic impact on sectors reliant on diesel fuel, such as freight and logistics.

Summary

SB00102 is a proposed bill aimed at reducing the tax rate for diesel fuel to forty and one-tenth cents per gallon. The bill was introduced by Senator Gordon and is intended to alleviate costs associated with diesel fuel, which is essential for various transportation and logistics operations. By lowering the tax rate on diesel fuel, the bill seeks to provide financial relief to businesses and consumers alike, potentially impacting pricing structures across the transportation sector. The reduction of the tax burden is seen as a proactive measure to support the economy amidst rising fuel costs.

Contention

Although the bill appears to have support from certain stakeholders, it may face opposition from individuals or groups concerned about the long-term implications of reducing fuel taxes. Critics might argue that lowering the tax rate could result in decreased funding for essential public services typically supported by fuel tax revenues. Opponents may express concerns that the bill prioritizes industry interests over broader public needs, particularly in relation to transportation infrastructure funding. The debate surrounding SB00102 highlights the tension between fiscal policy aimed at stimulating economic activity and the necessity of maintaining adequate public resource allocation.