With so much talk of the holiday season lately, it's understandable that business owners are…
Generally, when someone campaigns for a political position such as mayor, he or she announces a number of promises that are met with great skepticism. The idea of a politician keeping promises is one that is not often taken very seriously. Usually, those promises are forgotten once the campaign has been won.
Well, this is not so in the case of recently-sworn-in mayor of Toronto, Rob Ford. As 680News.com reports today, Ford has made good on his promise to eliminate the vehicle registration tax. Drivers all over the city were none too pleased when the $60 fee came into play just a few years ago.
With the cost of driving a car including car payments, insurance, gas, maintenance and repairs, it can be one of the most money-guzzling practices one can partake in. The additional $60, of course, became very unpopular, very quickly once it began taking effect.
This tax will officially disappear as of January 1, 2011. As 680News.com reports, it took only four hours of debate yesterday for city council to throw the tax out in a 39-6 vote. One of the main factors leading to the decision was the inability for councillors to explain the purpose of the tax upon its inception.
Former budget chief, Shelley Carroll supported the decision to do away with the hated vehicle registration tax. “Progressive councillors, it’s time we admit we failed,” said Carroll referring to the lack of explanation about the tax. And while Torontonians are no doubt elated about the news, the council did, however, vote down a motion for the tax to be retroactively repealed as of September 2010.
This would have allowed anyone who had paid the tax over the last three months to receive a rebate. Councillor Anthony Perruzza called for this motion feeling that it would be fair for constituents who had to pay the tax twice. Nevertheless, it appears as if Toronto’s new mayor has offered the city an early Christmas present.
680News.com did note, however, that “there is still uncertainty as to how Ford will offset the $64 million in lost revenue. Council did not agree to a motion that would prevent service cuts in order to fund the repeal. Ford has said he will find the needed cash without ‘major’ service cuts.”