Gas Tax Increase

On July 1, the Democratic controlled Connecticut Legislature will impose another insult to the Connecticut taxpayer. The Connecticut’s gross receipts tax on petroleum products will increase to 7.5% from 7%. According to the state Office of Policy and Management, for Fiscal 2008, which ends June 30, the state originally project­ed collecting $297 million from the gross receipts tax. It recent­ly revised that figure to $350 million — an increase of $53 million, or 18 percent. Our Connecticut legislatures in Washington are promoting a windfall profits tax on oil companies. But the windfall profits are being made by the state. Only 38% of the money goes to the transportation fund. The rest goes to the general fund. Diesel fuel also will get an 8 cent boost. The oil companies make about 8-10% profit. The value of the dollar has a large affect. But the state and federal government should give the taxpayer a break and cut spending like the taxpayer has to do.