I remind the Senator that in 1973 when we had the Arab oil embargo, we had a bipartisan effort to come together, to take steps to ensure we would never be over 50-percent dependent on imported oil. We created the Strategic Petroleum Reserve. Clearly we didn't follow what we were preaching at that time. One of the short-term proposals that our energy caucus has come up with is to support a temporary suspension until year end of the 4.3-cent-a-gallon gasoline tax that was added in 1993. Some will remember we had a debate on the floor regarding that tax. We were tied on the 4.3-cent-per-gallon gasoline tax increase. Vice President Gore came to the floor and broke the tie. Some have taken the opportunity to suggest this is the Gore tax, the 4.3 cent a gallon. It amounted to a 30-percent tax increase on the gasoline. We are proposing a temporary suspension. However, we clearly will not jeopardize the highway trust fund by this proposal.
Editor's note · Context
Discussing energy policy and a proposal to suspend the gasoline tax during Senate floor debate.
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