Representative Wait Demands Emergency Action on Relief from Skyrocketing Gas Prices

Springfield, IL… With gas prices topping $4.00 per gallon in Illinois, a group of House Republicans, including State Representative Ron Wait (R-Belvidere), today demanded immediate action on legislation to provide desperately needed relief at the pump for local families and businesses.  Wait and House Republicans called on their Democrat colleagues to join them today in passing legislation suspending the state sales tax on gasoline through the busy spring and summer driving months.

Representative Wait stressed that gas tax relief is not only necessary, it is also affordable.

“Soaring gas prices have provided the state with a large, unexpected sales tax windfall; an estimated $754 million by the end of our current fiscal year.  That’s an increase of $155 million over last year.  We need to put some of that money back in the pockets of families who need it.  Suspending the sales tax on motor fuel is one way we can do that,” said Wait.

Representative Wait and his House Republican colleagues today called for an immediate vote on House Bill 6318, which would suspend the state’s portion of the sales tax on motor fuel (5%) effective immediately through September 15, 2008, a move that would save consumers and businesses more than 17 cents per gallon at the pump on gas priced at $4.00 per gallon.  If you are a two-car family who fills up your 17-gallon tanks once a week, that’s a savings of $23.12 each month.  On diesel fuel, the savings would be approximately 20 cents per gallon.

“The state sales tax on fuel is regressive, plain and simple.  As of today, with diesel fuel selling for $4.45 a gallon, a trucker is spending over $70 per fill-up just on the state sales tax.  For an industry that works on the slightest of margins, any savings can make or break a trucker,” said Don Schafer, Executive Vice-President, Midwest Truckers Association.

“There is simply no excuse for failing to provide taxpayers and families gas tax relief at a time when Chicagoans are paying the highest at the pump in the nation and Illinois has the 4th highest gas tax overall,” said John Tillman, CEO, Illinois Policy Institute.  “By suspending the gas tax, Illinois taxpayers would save more than $200 million, including hard working families and the poor who need this savings now.”

Representative Wait believes the sales tax suspension on gasoline will help stimulate the economy.  The suspension would put more than $200 million back into the economy, benefitting the working class and poor the most.

“I have always supported lower taxes, especially when it can affect the economy positively, and help families,” stated Wait.  “I am hoping we can get unilateral support on this issue so, this summer, families do not cancel their vacations and truckers can continue to transport our commodities.”