U.S. Rep. Paul Ryan (R-Wis.) took a page from Democratic presidential contender Hillary Clinton's playbook today by introducing a bill that would suspend the federal gas tax for the summer.
Ryan unveiled the Gas Tax Relief and Earmark Moratorium Act of 2008 at today's Joint Hearing before the House Budget Committee and House Transportation Committee, which focused on financing infrastructure investments.
Ryan's proposal would suspend the federal 18.4-cents-per-gallon gasoline tax for the high-demand summer months. Today's announcement coincides with news that the price of a gallon of gas in southern Wisconsin has set new record highs, averaging roughly $3.80 per gallon in some areas.
With the revenues saved from the earmark moratorium, Ryan said his bill would replenish the Highway Trust Fund, a critical source of funding for the nation's infrastructure. The Gas Tax Relief and Earmark Moratorium Act would go a step further by shoring up the fund's projected shortfall for the coming fiscal year, Ryan said.
Ryan said the one-year earmark moratorium would provide an estimated $14.8 billion of additional revenue, more than enough to provide Americans relief at the pump and replenish the Highway Trust Fund so that road repairs can continue. Additional earmark savings would be dedicating to reducing the deficit.
"The decisions made by Congress on taxes and spending impact the paychecks of working men and women. By clinging to this broken earmark practice, Congress is picking pork over paychecks, and pork over potholes. Simply saying no to earmarks for the remainder of the year could give folks in Wisconsin some relief at the pump this summer and fix the Highway Trust Fund's deficit. I am hopeful that Congress will give up its addiction to pork and address the concerns of the American people," Ryan said.
Ryan joins Clinton in call to suspend gas tax for summer
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