Gov. Dannel Malloy has signed legislation to cap the state's gas tax on Tuesday, but many residents don’t expect the legislation will make much of an impact at a time when the average price for a gallon of gas is around $4.05.
The bill will save drivers about 2 cents per gallon, according to lawmakers, but they said this will have a greater impact as the price continues to climb.
The bill that passed unanimously in the state General Assembly caps the gross receipts tax, or the tax on the wholesale price of gasoline, when gas costs $3 a gallon or more.
John Mack spoke with NBC Connecticut in Manchester on Tuesday and said he does not think this will make much of a difference because higher gas prices lead to higher prices for other necessities, including food.
The bill would also provide protections against price gouging.
State Senator Len Suzio is proposing a plan to reduce the Petroleum Gross Receipts Tax from 7.53 percent to 2 percent in July in August, when many families will be traveling for summer vacation.
The bill went into effect immediately.
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Malloy has said he wants to give businesses time to adjust their computer systems to the new cap on the gross receipts tax.
