Following the rise in gas prices, several weak Democrat senators have proposed legislation that would temporarily stop the federal gas tax.
On Wednesday, Democrat Senators Mark Kelly and Maggie Hassan introduced the Gas Price Relief Act. The federal gas tax of 18.4 cents per gallon would be suspended for the remainder of the year under the legislation.
Democrat Senator Debbie Stabenow of Michigan, Nevada Senators Jackie Rosen and Catherine Cortez Masto, and Senator Raphael Warnock of Georgia are all co-sponsoring the legislation.
I just introduced a new bill to get rid of the federal gas tax through the end of the year.
That would mean lower prices at the pump and more money in your pocket.
— Senator Mark Kelly (@SenMarkKelly) February 9, 2022
Tough campaigns for Kelly, Hassan, Cortez Masto, and Warnock are expected in the 2022 midterms. By contrast, Hassan’s seat is ranked as leaning Democratic; Kelly, Cortez Masto, and Warnock are all considered toss-ups by the Cook Political Report.
Getting rid of the federal gas tax is a great way to ease financial burdens on American families, which is why I introduced it in the House a year ago as the PUMP Act. Looking forward to building bipartisan support for this idea, Senator! https://t.co/GQnbz8QH71
— Rep. Yvette Herrell (@RepHerrell) February 10, 2022
Kelly noted last month that inflation is “really impacting Arizona families and families around the country.” He blamed major firms, rather than federal fiscal and monetary policies.
This law would assist Arizona households dealing with high gas and grocery expenses by deferring the federal gas tax until the end of the year.
This bill is designed to give Granite Staters a break at the pump. In November, Hassan was one of eleven Senate Democrats who submitted a note to President Biden, encouraging him to utilize every instrument at his disposal to cut gas prices.
“This is critical legislation for Nevada households,” Cortez Masto stated. “I’m devoted to coming up with solutions that help our families save money and move ahead.”
“I am devoted to cutting growing expenses for Georgia households, whether it be supply chain difficulties, corporate greed, or prescription medicine co-pays,” Warnock said.
“Hardworking Georgians are aware that every cent matters. I’m delighted to introduce the Gas Price Relief Act with my colleagues to help working and middle-class families weather the economic storm.”
Regarding the upcoming midterm elections, voters are concerned about inflation, which has risen dramatically in the last year.
Rises in Prices
According to the Daily Wire, the [Consumer Price Index] figures indicated a 7% yearly increase, the fastest in over 40 years.
Since December 2020, the number of pricing categories suffering from 3% or more annual inflation has nearly doubled. That proportion is the largest since 1991.
Food inflation slowed somewhat month-on-month, but was still over 6% yearly. Although gasoline prices fell month-on-month, they are still up about 50% year-on-year. Overall, energy prices rose nearly 50%, while used car prices rose roughly 37% yearly.
Gas prices have risen to an average of $3.469 a gallon, a full dollar higher than at this time last year. Additionally, prices have increased significantly, following several weeks of much slower growth.
Gas is currently over $3.00 per gallon in every state. With a gasoline price of $4.681 a gallon, California continues to be the most expensive state in the nation. Experts estimate that prices will rise in 2022, possibly reaching new records by spring.