On the recordMay 3, 1996
Mr. President, I just came from a Finance Committee hearing where our majority leader, Senator Dole, spoke very eloquently about the issue of the removal of the 4.3-cent-per-gallon gasoline tax. I commend the majority leader as well as our colleague, Senator Gramm, for proposing the repeal of this unwise and unjust tax. As everyone knows in this body, the pressure to repeal the 1993 gas tax is, to a large degree, related to the recent spike in gasoline prices that has occurred in every State, with California being especially hard hit. In my State of Alaska where, by necessity, a large number of vehicles must be four-wheel drive, we are currently paying $1.33 for unleaded regular. The irony of that, as you know, Mr. President, is we are providing about 22, 23 percent of all the crude oil that is produced domestically in this country. Next week, as chairman of the Energy and Natural Resources Committee, I will be holding hearings in that committee to examine the underlying reasons for these price hikes.
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