Chair DeFazio Reiterates Opposition to “Short-Sighted” Federal Gas Tax Holiday
Washington, D.C. — Today, Chair of the House Committee on Transportation and Infrastructure Peter DeFazio (D-OR) issued the following statement regarding the benefits of a “gas tax holiday” to bring down gas prices for American families:
“As discussions on possibly suspending the federal gas tax continue, I urge my colleagues to see this for what it is: a short-sighted proposal that relies on the cooperation of oil companies to pass on miniscule savings to consumers – the same oil companies that made record profits last year and a staggering $35 billion in the first quarter of 2022.
Suspending the federal gas tax will not provide meaningful relief at the pump for American families, but it will blow a multi-billion-dollar hole in the highway trust fund putting funding for future infrastructure projects at risk.
We should deliver relief directly to American families struggling to make ends meet by ending price gouging and profiteering, not by passing a well-intentioned but ill-conceived policy that undermines the long-term positive impacts of the Bipartisan Infrastructure Law. That’s why I introduced the Stop Gas Price Gouging Tax and Rebate Act, which would tax the oil industry’s obscene 2022 profits and return the revenue back to Americans.”
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