House Democrats are looking at several strategies, including a gas tax holiday and a windfall profit tax on oil companies to lower gas prices.
The Punchbowl AM Newsletter reported on the ideas being pitched by Democrats.
There’s the gas-tax holiday. This has been something that the White House has weighed in recent weeks. A group of vulnerable Senate Democrats floated this proposal several weeks ago, as have their House counterparts. Several Democratic governors are also pushing for this option.
Rep. Peter DeFazio (D-Ore.), chair of the House Transportation and Infrastructure Committee, sounds like he would rather implement a “windfall profits” tax on the oil industry than a gas tax holiday. DeFazio believes oil companies would just pocket any tax rollback instead of passing it onto consumers.
Rep. Mike Thompson (D-Calif.) has been working on legislation that would offer Americans a rebate, offset by leveling tariffs on countries that still buy Russian oil.
The Democrats are looking for a solution. They are also considering direct payments to consumers to cover the increase in gas prices.
Most of these ideas have been kicking around for years, whether gas prices are low or high. The idea of a windfall profit tax on oil companies that could be redistributed to consumers would both stop the incentive for Big Oil to keep gas prices high and give consumers relief at the pump.
Democrats aren’t going to sit back and allow unnecessarily high gas prices to cost them votes in November.
Under Democratic control, Congress is sensitive and listens to the needs of the American people, and they are going to take action to lower gas prices.
Mr. Easley is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association