ALBANY, N.Y. (WENY) – New York State Assembly Republicans have introduced a bill that would suspend state sales tax on a variety of goods and services.
Supporters of the “Inflation Relief and Consumer Assistance Plan” say it would “provide New Yorkers with financial relief amid ongoing inflation and skyrocketing prices”. The legislation would lower prices on “dozens of everyday items” by eliminating tax charges for two years. Some of the affected products would be gasoline, personal care products, housekeeping supplies and food purchases.
According to the Bureau of Labor Statistics, the Consumer Price Index, which looks at the average cost of everyday items, climbed 5.4% between September 2020 and September 2021. That equals to an average monthly increase of $287 in expenses for single consumers; families of four see a monthly cost increase of $388.
“Everywhere you look, costs are going up and people are growing tired of it. Gas prices are the highest in seven years. The rate of inflation is reaching levels we haven’t seen in decades. Food, clothing, utilities, transportation – prices are rising on almost everything. How much more are New Yorkers supposed to take,” said Assembly Minority Leader Will Barclay (R,C,I-Pulaski). “We have a responsibility to act. This bill will give all New Yorkers a measure of financial relief during an extremely difficult time. Fortunately, revenue is coming into New York at a stronger rate than predicted. Let’s pass on some needed savings to people who have fought through a pandemic and are now dealing with a crushing cost-of-living crisis that’s being felt in every community.”
According to a recent report from New York State Comptroller Tom DiNapoli, state tax revenue brought in $7.2 billion more than originally projected through September.
Everyday consumers have seen the following price increases for goods such as:
- Gas prices – up 42.1%
- Energy prices – up 24.8%
- Food away from home – up 4.7%
- Housekeeping supplies – up 1.5%
- Paper products – up 5.3%
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