Raptakis, Serpa Applaud Their Business Fuel Tax Cut is Finally in State Budget

A long-time proposal by Sen. Leonidas P. Raptakis (D-Dist. 33, Coventry, West Greenwich, East Greenwich) and Rep. Patricia Serpa (D-Dist. 27, West Warwick, Coventry, Warwick) to eliminate the fuel tax for businesses has been included in this year’s state budget, which has been signed into law by Gov. Gina Raimondo.

“This is a long-time coming and certainly a step in the right direction,” Raptakis said. “With the elimination of a sales tax, this at least means a 7 percent savings on fuel for those currently doing business in the state. This could also be an attractive incentive for businesses to relocate to the state of Rhode Island.”

Raptakis, who has proposed the elimination of the fuel tax in previous sessions, said it’s this type of business-friendly legislation he would like to see more of next session.

“I’m proud and relieved to see the General Assembly take this step,”he said. “As a business owner, I truly understand the cost of doing business in this state. The fuel tax is a great example of the type of regulation that hinders small business in Rhode Island. We don’t charge sales tax for home heating fuel. And manufacturers are already exempt. So why would we want small businesses to shoulder that kind of burden?”

Rep Sepra continued: “The one thing I consistently hear at small business summits is how high fuel taxes are in Rhode Island. This will encourage the expansion of business and make it more attractive for other companies to want to come to Rhode Island and create jobs.”