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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | March 8, 2024 01:49 PM |
|---|---|
| From: | Representative Robert Leadbeter |
| To: | All House members |
| Subject: | Eliminating the Oil Company Franchise Tax |
| In the near future, I will be introducing legislation to eliminate the Oil Company Franchise Tax, commonly known as the gas tax. As you are aware, from groceries to housing, our constituents are suffering from rampant inflation in this Joe Biden Economy. A major contributor to these skyrocketing costs is the price of fuel, and Pennsylvania is home to one of the highest gas taxes in the nation at 57.6 cents per gallon for gasoline and 74.1 cents per gallon for diesel. These high taxes are simply unsustainable for our constituents, which is why I will be introducing legislation to eliminate the gas tax starting on July 1st, coinciding with the start of the next fiscal year. Additionally, also beginning on July 1st, my legislation will require the Commonwealth’s General Fund to offset the loss in gas tax revenue by requiring a deposit each fiscal year equal to the revenue that was previously generated by the gas tax into the Motor License Fund, which will be indexed to inflation each fiscal year. The revenue received from the General Fund will be distributed in the same manner as the gas tax revenue. Please know my legislation will not authorize any new taxes. I believe the General Assembly needs to live within its means, just like our constituents. By funding our roads and bridges from the General Fund, the General Assembly will be forced each year to cut wasteful spending in the budget in order to adequately fund roads and bridges. I hope you will join me in cosponsoring this legislation that will bring much needed relief to our constituents. |
Memo Updated: March 8, 2024 01:50 PM