Dems’ Dilemma on Lowering Gas Prices – By Yuval Rosenberg and Michael Rainey (The Fiscal Times) / April 29, 2022
Happy Friday! Here’s your fiscal news update to close out the week.
Dems’ Dilemma on Lowering Gas Prices
Some Democrats are pressing House Speaker Nancy Pelosi (D-CA) to reconsider her rejection of a gas-tax holiday, The Hill reports.
“The grumbling is especially pronounced among lawmakers facing tough reelection contests in November, who are eager to bring home a policy they say would provide tangible and immediate savings for drivers at the pump,” The Hill’s Mike Lillis writes.
Pelosi has argued that a suspension of the federal gas tax might help lawmakers look like they’re taking action in response to high fuel prices, but it wouldn’t actually help consumers much since oil companies wouldn’t have to pass on the savings. She has also expressed concern that a gas-tax holiday would deprive the Highway Trust Fund of needed funding, a worry reportedly shared by the White House.
Vulnerable Democrats acknowledge that a gas-tax holiday would come with downsides but are pushing for one nonetheless. “It’s not perfect, what I’m proposing, but it is something. And if you are from a state where people drive 40 miles one-way to work, you’re interested in whatever helps,” Rep. Elissa Slotkin (D-MI) told The Hill.
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