As gas prices hit new record highs this week,House Republican leaders on Tuesday challenged Speaker Nancy Pelosi (D-Calif.) to release a plan to lower gas prices that they say Democrats touted when they were in the minority. In a press release dated April 24, 2006, Pelosi said, “Democrats have a commonsense plan to help bring down skyrocketing gas prices by cracking down on price gouging, rolling back the billions of dollars in taxpayer subsidies, tax breaks and royalty relief given to big oil and gas companies, and increasing production of alternative fuels.” The letter cited policies put in place during the GOP control of Congress that the Speaker claimed had raised prices on American consumers to benefit oil companies.
Gasoline prices have spiked $1.18 since Democrats took over in January and stands at an average of over $3.51 per gallon with forecasts of $4.00 plus gasoline this summer.
Also,prices at the pump also include 18.4 cents per gallon in federal taxes and a national average of 23.6 cents per gallon in state taxes! If the federal or state governments were truly concerned about rising gas costs they would act to abolish gas taxes and burdensome energy industry regulations!
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