I must say I am puzzled why a Republican minority voted last week to prevent the Senate from even proceeding to the consideration of a bill--H.R. 6049, the Energy Independence and Tax Relief Act of 2008--designed to bring down sky-high oil and gasoline prices, promote clean and renewable energy, create good jobs here in America, and put our Nation on a path to energy security. I am equally puzzled at the opposition to the provisions being paid for by closing a tax loophole on offshore income made by hedge fund managers. The American people need our help and we have a bill that would provide much needed relief to American families and yet we can't even get enough votes to legislate on the bill. The price of crude oil on the spot market is approaching $140 per barrel, nearly double the price of 1 year ago. When President Bush took office, a gallon of regular gas cost $1.46 and a gallon of diesel fuel cost $1.53. Today, those prices are at all-time highs, with regular gas costing $4.02 per gallon and diesel fuel costing $4.77 per gallon. A new poll indicates that 60 percent of Americans are reducing spending on other priorities because of rising gas prices. One-half of all households with incomes below $20,000 say they face severe hardships because of soaring gas prices. Clearly, the status quo is intolerable, but the minority won't even let the Senate consider bills to address these problems, much less pass them. As I said, I find that puzzling.
Editor's note · Context
Addressing the Senate's failure to consider the Energy Independence and Tax Relief Act of 2008.
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