But I would like to talk briefly about that amendment and indicate that it would be offered on behalf of Senator McCain, my colleague from Arizona, as well as other Senators, some of whom may want to also speak to it briefly. We all know gasoline prices have risen dramatically. And the amendment Senator McCain and I and others would offer would provide a temporary tax holiday from Memorial Day to Labor Day, preventing the Federal Government from collecting the 18.4-percent tax, the gasoline tax, that otherwise motorists would pay. I assure my colleagues that the highway trust fund, which that tax goes into, would be kept whole with Federal revenues from the General Treasury. So the money we use to build highways and bridges and so on would not be affected by this amendment. Briefly, I think we all feel the pinch when we fill up our cars and trucks. But listen to these statistics. According to economy.com, gasoline prices at the pump have increased from $2.22 to $3.33 a gallon, up 50 percent since the start of 2006.
Editor's note · Context
Discussing a proposed amendment for a temporary gasoline tax holiday during Senate floor debate.
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