×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: congress | gas tax | inflation

Senators Call for Gas Tax Suspension to Blunt Rising Prices

Senators Call for Gas Tax Suspension to Blunt Rising Prices
Gas prices have surpassed $4 a gallon in some parts of the nation. (Dreamstime)

Wednesday, 09 February 2022 08:49 AM EST

Some Democratic senators on Wednesday called for suspending the federal gas tax for the remainder of the year to help consumers struggling with rising fuel prices.

The legislation from Sens. Mark Kelly of Arizona and Maggie Hassan of New Hampshire could prove popular during an election year in which the average price of gas nationally, according to AAA, exceeds about $3.45 a gallon and could go higher during peak driving season. Four other Democratic senators quickly signed on as co-sponsors. Still, the bill faces an uphill fight to become law.

Kelly said gas prices are putting a strain on families that need to fill up the tank to get to work and school.

18.4 Cents/Gallon Tax Since '93

The federal gas tax has remained at 18.4 cents per gallon since 1993. The money goes into a trust fund that helps pay for highway construction projects and public transit. The bill would require the Treasury Department to transfer general funds into the trust fund to make up for the lost gas tax revenue and keep the trust fund solvent, likely requiring additional borrowing.

“We need to continue to think creatively about how we can find new ways to bring down costs, and this bill would do exactly that, making a tangible difference for workers and families,” Hassan said.

The bill also would require the Treasury Department to monitor whether oil and gas companies are passing along the savings to consumers and encourages the department's secretary to take enforcement actions to ensure they do.

Gas Tax Suspension Just Talk

Over the years, lawmakers have visited the idea of suspending the gas tax but did not generate enough support to get their bill over the finish line. Legislation introduced last year in the House has support from some Republicans.

It seeks to suspend the gas tax until all emergency health orders related to the COVID-19 pandemic are lifted or for six months after the bill is enacted into law, whichever is longer.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


StreetTalk
Some Democratic senators on Wednesday called for suspending the federal gas tax for the remainder of the year to help consumers struggling with rising fuel prices.
congress, gas tax, inflation
329
2022-49-09
Wednesday, 09 February 2022 08:49 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved