Today, Governor Lamont joined governors in the Northeast region in signing onto the newly-released Transportation Climate Initiative (TCI) Memorandum of Understanding. The initiative would result in $388.6 million per year in increased gasoline costs across the state.
Connecticut is already struggling amid an economic downturn. Imposing a significant tax increase simply chops any chance of recovery off at the knees and harms working families with a regressive tax at a time when few can afford it.
Moreover, the TCI has a particularly impact on Connecticut, as our state already has the 15th highest gasoline taxes in the country, and the second highest cost for electricity in the continental United States. By agreeing to this MOU, Governor Lamont agrees to:
- $388.6 million in additional burdens on the poor and working classes during a time of underemployment and fiscal uncertainty;
- Additional layers of bureaucracy (with all their accompanying costs); and
- A non-governmental, multi-state agency with no public oversight that will determine how to spend the money with limited legislative oversight. Connecticut, as only one participant in a twelve-state program, is likely to have little say in these decisions.
Yankee Institute president Carol Platt Liebau said, “This new tax is regressive, opaque, and offensive to hardworking Connecticut residents and small business owners who deserve better from a state government that is supposed to care about them and represent their interests – not the interests of an activist group bent on making it too expensive for the average family to drive to work.”