On Thursday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Sam Liccardo (D-CA) said that in California, “my neighbors pay way too much already.” But a federal gas tax holiday wouldn’t help and “if the gas tax goes away, it means we don’t have the basic infrastructure we critically need in this country.”
Co-host Kailey Leinz asked, “If the White House were to come to Congress and request a gas tax holiday, would you be supportive of that in the name of relief at the pump for your constituents?”
Liccardo answered, “I’m certainly open to considering many options. But we know what happens if the gas tax goes away, it means we don’t have the basic infrastructure we critically need in this country. I think a better approach is, let’s wrap up this war and refocus U.S. public resources on U.S. infrastructure, because that’s what the gas tax funds. And what we really need to be doing is investing in this country and not spending abroad.”
Co-host Joe Mathieu then asked, “Well, a lot of economists would tell you that the gas tax holiday simply would increase demand, which sends prices even higher, Congressman. What are you paying the last time you filled the tank in California?”
Liccardo responded, “We’re paying a lot. I drive an electric car, so I couldn’t tell you what I pay. But I can tell you, my neighbors pay way too much already. Look, I think those economists are right, fundamentally, simply priming the pump with more demand is not going to help provide tax — or price relief that so many consumers are burdened by. And let’s keep in mind all of the other ways this is affecting consumers. We know a huge hit is being felt by an awful lot of farmers as a result of a big spike in fertilizer costs, a third of the world’s fertilizer comes from this region.”
Follow Ian Hanchett on Twitter @IanHanchett
Read the full article here
