New York

New York lawmakers finalize $220B budget

New York – While New Yorkers are hardly satisfied with the outcome, lawmakers agreed to the terms of a new state budget. The budget, which was days late, leaves significant gaps – especially for the business community.
A gas tax holiday was one of the biggest overall wins for New Yorkers feeling the pinch brought on by skyrocketing fuel costs.
The gas tax holiday should save motorists about $0.16 per gallon but does nothing to address heating and cooling costs for homeowners.
The deal only covers about half of what the state actually collects in taxes, which is $0.33 per gallon. The holiday runs from June 1 to December 31.
This measure is included in the FY 2023 budget. It’s considered a major win — as it solidifies alcohol-to-go sales for the next three years.
The one catch with the measure is that it must be accompanied by a ‘significant’ food item. It’s unclear how that will be defined.
 

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