MARCH 04, 2025
TUESDAY, MARCH 04, 2025 10:00 A.M. Frits E. Lawaetz Legislative Conference Room St. Croix, Virgin Islands THE COMMITTEE OF THE WHOLE - RECONVENED The Committee of the Whole will continue to receive testimony on the economic pressures impacting the cost of living in the U.S. Virgin Islands Part 3: HIGH FUEL PRICES • Breakdown of gas pricing (Wholesale vs Retail) • Impact of global market trends on local gas prices • Role of transportation and freight costs on price inflation • Government oversight and regulation of gas pricing • Potential for renewable energy and alternative fuel solutions Invited Testifiers: Kyle Fleming, Director, VI Energy Office Lawrence Ramdhansingh, President, VI Taxi Association Kerry Harrigan, Manager, Best Taxi Allison Petrus, Owner, Petrus Gas Honorable Nathalie Hodge, Commissioner, VI Department of Licensing & Consumer Affairs Honorable Wayne Biggs, Chief Executive Officer, VI Economic Development Authority Part 4: SALES TAX vs GROSS RECEIPT TAXES • Comparative Analysis of sales tax and gross receipt taxes • Economic Impact on businesses and consumers • Rev …
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TUESDAY, MARCH 04, 2025 10:00 A.M. Frits E. Lawaetz Legislative Conference Room St. Croix, Virgin Islands THE COMMITTEE OF THE WHOLE - RECONVENED The Committee of the Whole will continue to receive testimony on the economic pressures impacting the cost of living in the U.S. Virgin Islands Part 3: HIGH FUEL PRICES • Breakdown of gas pricing (Wholesale vs Retail) • Impact of global market trends on local gas prices • Role of transportation and freight costs on price inflation • Government oversight and regulation of gas pricing • Potential for renewable energy and alternative fuel solutions Invited Testifiers: Kyle Fleming, Director, VI Energy Office Lawrence Ramdhansingh, President, VI Taxi Association Kerry Harrigan, Manager, Best Taxi Allison Petrus, Owner, Petrus Gas Honorable Nathalie Hodge, Commissioner, VI Department of Licensing & Consumer Affairs Honorable Wayne Biggs, Chief Executive Officer, VI Economic Development Authority Part 4: SALES TAX vs GROSS RECEIPT TAXES • Comparative Analysis of sales tax and gross receipt taxes • Economic Impact on businesses and consumers • Revenue implications for the government • Insights from academic and economic experts • Recommendations for tax reform or adjustments Invited Testifiers: Dr. Mark Wenner, Economist Honorable Joel Lee, Director, VI Bureau of Internal Revenue Julio Rhymer, Director, Office of Management and Budget Honorable Kevin McCurdy, Commissioner, VI Department of Finance