Today we introduced 3 bills. Bill 10-35 would roll back the Liquid Fuel Tax to the pre-January 1, 2018 rate. This is a regressive tax that impacts us at the gas pumps, and many cries were made during the campaign, that certain taxes that affect the working class shouldn’t be introduced.
The liquid fuel tax does help fund the highway fund, which unfortunately has been used to fund many other expenses of the government over the years, defeating its objectives which were for road construction and repairs. Thus the intent of the previous legislature in increasing that tax.
Considering that Bill 10-35 will impact the additional revenues going into the highway fund, we are working on another bill that would help replenish that shortfall and it should be out next week. But in the meantime, we need to be working towards reducing the cost of fuel, and Bill 10-35 is a start. Biba Guam!