[Congressional Record Volume 142, Number 60 (Friday, May 3, 1996)]
[Senate]
[Pages S4663-S4666]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
THE GASOLINE TAX
Mr. PRYOR. Mr. President, I am somewhat at a loss because I have been
in the Finance Committee this morning and also have been serving in
another capacity for the last few minutes, so I have not heard any of
the actual statements on the floor of the U.S. Senate that have been
made this morning. However, it has been brought to my attention that
several statements have been made relative to the gasoline tax and the
proposal to repeal 4.3-cent-per-gallon of the gasoline tax.
Considering that those statements have been made this morning and
having a general idea of probably what those statements were, I would
like to not only stand for a moment to respond but also to place in the
Record some pertinent facts that I think need to be made very clear.
First, in the Finance Committee meeting this morning, which I must
say was very spirited, very lively, we had a lot of discussion about
whether or not we should repeal the 4.3-cent-per-gallon gas tax enacted
in 1993 toward deficit reduction. We had a distinguished panel that
represented the truckers, that represented the bus industry, that
represented the airline industry. They had a wonderful man there who
operates, in Prince Georges County, two service stations. The basic
theory was, if we could get the Congress to repeal the 4.3-cent-per-
gallon gasoline tax, that immediately 4.3 cents per gallon would be
taken off of gasoline at the pump.
Let us look back a little bit to see if this logic will come true.
After 1993, the 4.3-cent-per-gallon gasoline tax was collected, after
we placed the tax on and allocated this particular new tax, this new
fee toward deficit reduction, not only did we start decreasing the
deficit, but we did something else. Gasoline prices came down. Gasoline
prices came down after we placed the 4.3-cent user fee, in 1993, on
gasoline. People do not talk about that very much right now, but that
was the case.
There is another concern that I had this morning in today's hearing
in the Finance Committee. The people on the panel, who are very good
advocates for their constituent groups, for the truckers and the
airlines, the service station owners, and all the rest, these
individuals came before the Senate Committee on Finance this morning
and basically stated that, first, ``If you will repeal this gasoline
tax, we're going to be able to spur the economy, we're going to be able
to lower gasoline prices, we're going to be able to buy diesel for our
trucks at 4.3 cents per gallon less.''
But what was never stated, even though they were coming and saying,
``Give us a break, give us some relief,'' they never stated--any of
them--how we were going to make up this loss of revenue. We collect
$4.8 billion a year in this particular tax of 4.3 cents per gallon. Not
one of our witnesses this morning said, ``We have a way for you to
prevent the deficit from rising dramatically if you repeal this
gasoline tax.'' Not one of them. Not one witness this morning gave us
an indication of how we are going to make up this shortfall.
I guess they were saying, ``Cut this tax out, let the deficit
increase,'' because they gave us no responsible alternative for making
up the difference.
[[Page S4664]]
There is something else that concerned me, Mr. President, about that
particular hearing. It was very, very partisan. It was extremely
political. In fact, I commented that I did not know yet that the
nominating conventions had started. I thought those were going to be in
California and in Chicago come August, but it sounded like it was a
political convention this morning in the Finance Committee. I am sorry
it happened that way, but it did happen. You just have to take that on
and take that as it is.
But what was not said also by any of our panelists, nor Members on
the other side of the aisle, I might say, is that some people's
philosophy is that you should not ask the Government to solve all of
the problems; that every time there is a problem, you do not seek
Government intervention.
But this is what, on the other side of the aisle, we are being asked
to do at this time in response to rising gas prices. By the way, there
are some Senators on our side of the aisle who support the repeal of
the gasoline tax. Senator Baucus from Montana, for example, had a
letter there and it stated his intent to vote for the repeal. I might
vote for the repeal. I am not sure. I do not think I will. I might, if
I can be shown where the consumers might benefit. But no one yet has
shown us how the consumer is going to benefit to the tune of 4.3 cents
a gallon if we repeal the gasoline tax.
Here is what they also did not indicate this morning. They are coming
to the Government for relief. Why do they not go to the oil companies
for relief? You say, ``Wait a minute, how can they go and seek relief
from the oil companies?'' Here is how.
Let us look at the profits of, say, Shell, Amoco, Chevron, Texaco. In
the first quarter of 1996, Shell reported $483 million in profits
compared to $340 million in the first quarter of 1995. Amoco, $728
million in the first quarter this year compared to $523 million in the
first quarter of 1995. Chevron, $616 million in the first quarter of
1996 compared to $459 million in the first quarter of 1995. Texaco,
$386 million in the first quarter of 1996 compared to $297 million in
profits in the first quarter of 1995.
That is an increase, for example, of $143 million that Shell gained
over the first quarter of last year. That is a situation where Amoco
looks up here and all of a sudden the first quarter of this year, they
have made $205 million more in net profits than they made in the first
quarter of 1995--$205 million.
That is where some relief can be given, because that is where the
price at the pump is determined, not with the 4.3-cent-a-gallon deficit
reduction tax. The price at the pump, as the distinguished Presiding
Officer knows, is established by the oil companies as to what they
charge the retailer at the service station. That is where the price is
decided.
The gasoline company, the Texacos and Chevrons remit that tax to the
Government, not the retailer, not the Chevron dealer who was there from
Prince George's County this morning. The retailers do not do that. The
big oil companies collect and remit the tax, and I assume they charge a
fee on top of the tax for collection and remission of the tax to the
Federal Government.
This is the same tax that has increased our opportunity to deal with
the deficit numbers. Had we not had them, we perhaps would have been
$30 billion more in debt.
Mr. President, I know that there are a lot of organizations in this
town that will steam up here in the next few days and weeks to repeal
the gas tax. But I might note that we also have the taxpayer bill of
rights 2. On this side of the aisle, we have cleared the taxpayer bill
of rights 2 to be passed. The second taxpayer bill of rights gives
equity, uniformity, and fairness to the taxpayers of America on our
side of the aisle, we say, ``Let's go with it.'' On the other side of
the aisle, ``Let's slow it up, because we may want to put this repeal
of the gasoline tax on the taxpayer bill of rights.''
I hope they do not use that vehicle, because I think the taxpayers
right now need to have that protection by the taxpayer bill of rights
2. It has been a bipartisan effort. The distinguished Presiding
Officer, I think, has been a cosponsor of the taxpayer bill of rights.
Let us not slow that down, and let us not speed up so quickly the
stampeding to repeal the 4.3-cents-a-gallon gasoline tax unless we have
the assurance, the absolute ironclad assurance that should we do it,
the consumers are going to benefit and not the big oil companies.
Right now, it does not seem like the big oil companies have a great
deal of sympathy for the consumer when they are making 42 percent more
profit; 39 percent more profit; 34 percent more profit; 30 percent more
profit--Shell, Amoco, Chevron, Texaco, and on down the line. They are
all awash in money.
They say, ``Well, the reason that those gasoline prices are having to
be increased right now''--you have heard them, Mr. President, you have
watched them on television and read them--the reason is because of all
these environmental standards that we have to meet; we are just having
to take all of these profits and plow back in to increasing the
environmental standards, and that is increasing our costs. Increase
their costs? They are making 42 percent more profit than they did this
time last year, Mr. President, so that argument does not work.
They sound to me like the big pharmaceutical companies. They say,
``Oh, we have to make this enormous profit''--the most profitable
industry in America today--``so we can do research.'' We pay them for
research with research and development tax credits, and yet they are
trying to hornswoggle the public, take advantage of the consumers,
gouge the elderly. They are trying to charge the very highest prices,
and they are getting by with it. They are getting by with it, Mr.
President. They are charging the American consumer 40 and 50 percent
more than that same drug is selling for across the border in Mexico and
Canada and Great Britain, Europe--all over the world.
We subsidize them, we pay for it, and we pay for their product
through the nose. It is not right, and before we rush to judgment on
repealing this 4.3 cent user fee, I just urge us to step back a little
bit and say, ``Where are we going to make up the difference?'' Why can
the oil companies not use a little more sympathy, and if we repeal it,
is this actually going to mean that the consumer is going to get a
break? In my opinion, there is no evidence whatsoever, not one
scintilla of evidence that the consumer is going to benefit from this
particular break.
Mr. President, in the Wall Street Journal, I think this morning--and,
by the way, we had no economists, we had only advocates for the
particular constituencies there this morning--we said, ``Where are all
the economists? Why didn't they come? Why didn't we have someone to
answer this question? Are the consumers going to get the benefit of
this repeal if we do in fact repeal it, if we increase the deficit and
repeal the gasoline tax?''
Here is front page of the Wall Street Journal of this morning, Mr.
President. It says, ``Don't Do It.'' I am going to quote:
Many economists say repealing the gasoline tax is wrong.
Federal Chairman Greenspan and board nominee Rivlin have
previously called for higher rates to discourage consumption
and balance the budget.
By the way, Mr. President, I am not calling for higher rates. I am
just saying that with the rates we have, we should not be stampeded
into repealing them before we know what the results are going to be.
Berkeley Alan Auerbach calls the cut, ``A silly idea.''
Mr. President, that is the Wall Street Journal this morning. It is a
very conservative epistle, all of us know.
Mr. President, the distinguished majority leader, who is certainly a
member and former chairman of the Finance Committee, very distinguished
Member of this body, Senator Dole of Kansas--Senator Dole was talking
this morning, today, and on the floor some this week, about the need to
repeal the gasoline tax.
You know, in 1982, only 1 day before Christmas Eve, December 23--we
were in session around here that particular time, and I kind of
remember that time. I will read from a ``Dear Colleague'' letter from
Senator Dole, at that time the chairman of the Senate Finance
Committee.
I am now quoting Senator Dole's ``Dear Colleague'' letter:
I urge you to vote for the [Surface Transportation Act of
1982]. . . . The bill increases the taxes on gasoline, diesel
fuel and other motor fuels from 4 to 9 cents per gallon. [A]n
[[Page S4665]]
increase of 125 percent in the fuels taxes may look onerous .
. . This will only amount to a 4 percent increase in gasoline
prices and the new 9-cent tax will be significantly lower
relative to other consumer prices than the 4-cent tax was
when [that] was enacted in 1959.
It seems the newer environment or recent events have convinced
Senator Dole that maybe gasoline taxes all of a sudden are not good,
because a few years back he was supporting the gasoline tax.
Mr. President, there is also another part of our discussion this
morning--I am sure there has been on the floor--that historically the
Congress, in enacting a gasoline tax, puts this into the highway trust
fund. Historically that is the truth except for in 1990 and 1993.
Historically that is what the tradition has been.
But, Mr. President, we found in 1993 a most unique situation. We
found a deficit that had run wild that was out of control. We also
found that we had a President who was willing to take a risk, a
political risk. Mr. President, it was a political risk. Every Democrat
on this side of the Senate Chamber voted for this particular package
that included 4.3 cents.
That 4.3 cents did not go to the highway trust fund. No, sir, it did
not. You are correct; it did not. But at that moment we had to do
something, we had to do something drastic, and we had to do something
dramatic. We had a very unique situation that we had to take care of.
The way that we started attacking it, Mr. President, was saying, OK,
this may not be traditional, this may be unique, this may be different,
but we are going to have to do it. We enacted the 4.3-cent gasoline
tax.
As a result, we have cut the deficit, Mr. President. As a result, in
my opinion, the people go in to the service station and buy their
gasoline, and if they think they are reducing the deficit with having
to pay perhaps a little more, I think they are willing to do it. I may
be wrong, but I think they are willing to do it.
Our President took that opportunity. He accepted that challenge. He
met the mandate of the people to do something about the national debt
and the deficit. It was hard. I tell you it was a hard vote to cast
over here. It was an easy vote over there because not one of our good
colleagues on the other side--not one--voted for the package.
I can remember the hue and cry after that--``the biggest tax increase
in American history,'' and all of that. I did not think it was. I think
in retrospect the historians will look kindly upon those who took that
risk and who accepted that challenge that we had to do something to
protect and to begin to protect the future generations who are going to
be called upon to pay this huge deficit, this huge national debt. The
1993 deficit reduction bill was a way to start.
To the best of my knowledge, the people out there--and I have not
seen a poll on this, no sir--but to the best of my knowledge, the
people have said, ``If it goes for deficit reduction, if it will help
defray this onerous debt that is going to be on the backs of our
children and grandchildren, I am willing to pay a little more.
Let me also state once again, as I opened, Mr. President, that when
we passed this 4.3-cent gasoline tax, the price of gasoline at the pump
went down.
Mr. President, I ask unanimous consent that a chart and other tables
which give that statement credibility and which backs it up with the
facts be printed in the Record.
There being no objection, the material was ordered to be printed in
the Record, as follows:
TABLE 9.4.--MOTOR GASOLINE RETAIL PRICES, U.S. CITY AVERAGE
[Cents per gallon, including taxes]
------------------------------------------------------------------------
Leaded Unleaded Unleaded All
regular regular premium types a
------------------------------------------------------------------------
1973 average.................... 38.8 NA NA NA
1974 average.................... 53.2 NA NA NA
1975 average.................... 56.7 NA NA NA
1976 average.................... 59.0 61.4 NA NA
1977 average.................... 62.2 65.6 NA NA
1978 average.................... 82.8 67.0 NA 65.2
1979 average.................... 86.7 90.3 NA 88.2
1980 average.................... 119.1 124.5 NA 122.1
1981 b average.................. 131.1 137.6c 147.0 135.2
1982 average.................... 122.2 128.6 141.6 128.1
1983 average.................... 115.7 124.1 138.2 122.5
1984 average.................... 112.8 121.2 136.6 119.6
1985 average.................... 111.6 120.2 134.0 119.6
1986 average.................... 85.7 92.7 108.5 93.1
1987 average.................... 69.7 94.8 108.3 95.7
1988 average.................... 89.9 94.6 110.7 96.3
1989 average.................... 98.8 102.1 119.7 106.0
1990 average.................... 114.3 116.4 134.9 121.7
1991 average.................... NA 114.0 132.1 119.6
1992 average.................... NA 112.7 131.6 119.0
1993:
January....................... NA 111.7 131.3 118.2
February...................... NA 110.8 130.1 117.2
March......................... NA 109.8 129.4 116.3
April......................... NA 111.2 130.4 117.5
May........................... NA 112.8 131.9 119.3
June.......................... NA 113.0 132.1 119.4
July.......................... NA 110.9 130.5 117.4
August........................ NA 109.7 129.4 118.3
September..................... NA 108.5 128.2 115.1
October....................... NA 112.7 132.3 119.3
November...................... NA 111.3 130.5 117.8
December...................... NA 107.0 126.8 113.6
Average....................... NA 110.8 130.2 117.3
1994:
January....................... NA 104.3 124.0 110.9
February...................... NA 105.1 124.5 111.4
March......................... NA 104.5 124.3 110.9
April......................... NA 106.4 126.0 112.8
May........................... NA 108.0 127.4 114.3
June.......................... NA 110.6 130.0 116.7
July.......................... NA 113.6 132.7 119.9
August........................ NA 118.2 138.7 124.3
September..................... NA 117.7 138.4 123.7
October....................... NA 116.2 134.5 121.2
November...................... NA 116.3 135.4 122.2
December...................... NA 114.3 133.7 120.3
Average....................... NA 111.2 130.5 117.4
1995:
January....................... NA 112.8 132.4 119.0
February...................... NA 112.0 131.6 118.1
March......................... NA 111.5 130.6 117.3
April......................... NA 114.0 132.5 119.7
May........................... NA 120.0 138.3 125.8
June.......................... NA 122.6 141.1 128.1
July.......................... NA 118.5 138.4 125.2
August........................ NA 116.4 135.2 122.2
September..................... NA 114.8 133.2 120.6
October....................... NA 112.7 131.5 118.5
November...................... NA 110.1 129.2 116.1
December...................... NA 110.1 129.0 116.0
Average....................... NA 114.7 133.6 120.5
1996 January.................... NA 112.9 131.7 118.6
------------------------------------------------------------------------
a Also includes types of motor gasoline not shown separately.
b In September 1981, the Bureau of Labor Statistics changed the weights
used in the calculation of average motor gasoline prices. From
September 1981 forward, gasohol is included in the average for all
types, and unleaded premium is weighted more heavily.
c Based on September through December data only.
NA=Not available.
Notes: * See Note 5 at end of section. * Geographic coverage for 1973-
1977 is 56 urban areas. Geographic coverage for 1978 forward is 85
urban areas.
Sources: * Monthly Data: U.S. Department of Labor, Bureau of Labor
Statistics, Consumer Prices: Energy. * Annual Data: 1973--Platt's Oil
Price Handbook and Almanac, 1974, 51st Edition. 1974 forward--
calculated by the Energy Information Administration as the simple
averages of monthly data.
TABLE 16.--RETAIL MOTOR GASOLINE AND ON-HIGHWAY DIESEL FUEL PRICES, 1995 TO PRESENT
[Cents per gallon, including taxes]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
January February March April May June July August September October November December
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1995
Motor Gasoline...................... 113.0 112.0 111.9 115.7 122.5 123.9 120.1 117.0 115.8 113.4 110.8 111.8
Conventional Areas.............. 109.5 108.8 108.9 113.7 121.0 122.3 118.0 115.1 113.8 110.9 108.4 109.5
Oxygenated Areas................ 118.4 116.8 116.6 118.8 123.8 124.8 122.4 119.8 119.8 119.0 118.0 118.0
OPRG Areas...................... 126.2 125.1 124.0 124.0 129.6 132.7 130.9 127.6 125.8 123.2 124.0 124.5
RFG Areas....................... 121.8 120.7 119.3 120.9 126.8 128.4 125.3 121.0 118.5 118.2 115.2 115.8
Regular........................... 108.2 107.3 107.2 111.1 117.8 119.1 115.4 112.3 111.1 108.7 106.2 107.1
Conventional Areas.............. 105.1 104.4 104.8 109.4 116.5 117.8 113.5 110.7 109.3 106.5 104.0 105.1
Oxygenated Areas................ 114.4 112.9 112.9 115.0 120.2 121.0 118.8 116.0 116.1 115.2 114.2 114.1
OPRG Areas...................... 117.6 116.4 115.3 115.3 121.3 124.3 123.3 119.3 117.8 115.2 115.4 115.9
RFG Areas....................... 116.4 115.3 114.0 115.7 121.7 123.1 119.9 115.6 114.0 112.8 109.8 110.3
Midgrade.......................... 117.4 118.5 115.1 119.9 128.8 128.3 124.5 121.3 120.0 117.5 115.1 116.0
Conventional Areas.............. 113.9 113.3 113.2 117.9 125.4 126.7 122.4 119.3 118.1 115.1 112.6 113.8
Oxygenated Areas................ 123.3 121.5 121.1 123.5 128.5 129.5 126.8 123.9 123.5 122.7 122.5 122.7
OPRG Areas...................... 130.1 129.2 127.9 127.7 133.1 135.9 134.1 130.9 129.0 126.6 128.5 128.7
RFG Areas....................... 126.4 125.2 124.0 125.4 131.2 133.1 130.3 126.3 124.7 123.0 119.9 120.6
Premium........................... 127.5 126.5 125.8 129.5 136.4 137.9 134.2 131.1 129.8 127.3 124.7 125.5
Conventional Areas.............. 123.4 122.6 122.2 127.0 134.5 138.1 131.8 126.8 127.5 124.4 122.0 122.9
Oxygenated Areas................ 134.0 132.3 131.9 133.8 138.5 139.4 137.4 135.3 134.5 134.2 133.5 133.6
OPRG Areas...................... 139.4 138.1 137.1 137.0 142.4 145.1 143.2 139.9 138.1 135.3 138.3 138.8
RFG Areas....................... 135.5 134.2 132.6 134.0 139.6 141.3 138.5 134.2 132.9 131.6 128.0 129.5
On-HIghway Diesel fuel.............. 109.8 108.8 108.8 110.4 112.5 111.9 110.0 110.5 111.9 111.5 112.0 113.0
1996
Motor Gasoline...................... 113.7 113.6 118.3 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Conventional Areas.............. 111.5 111.4 116.4 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Oxygenated Areas................ 119.0 119.1 123.5 ........... ........... ........... ........... ........... ........... ........... ........... ...........
OPRG Areas...................... 127.3 126.9 128.0 ........... ........... ........... ........... ........... ........... ........... ........... ...........
[[Page S4666]]
RFG Areas....................... 117.7 117.8 122.1 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Regular........................... 109.0 108.9 113.7 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Conventional Areas.............. 107.2 107.0 112.0 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Oxygenated Areas................ 115.2 115.2 119.5 ........... ........... ........... ........... ........... ........... ........... ........... ...........
OPRG Areas...................... 118.4 118.1 119.1 ........... ........... ........... ........... ........... ........... ........... ........... ...........
RFG Areas....................... 112.2 112.3 116.8 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Midgrade.......................... 117.9 117.9 122.5 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Conventional Areas.............. 115.8 115.6 120.6 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Oxygenated Areas................ 123.4 123.8 128.5 ........... ........... ........... ........... ........... ........... ........... ........... ...........
OPRG Areas...................... 131.3 131.5 132.5 ........... ........... ........... ........... ........... ........... ........... ........... ...........
RFG Areas....................... 122.3 122.5 126.3 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Premium........................... 127.6 127.4 132.0 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Conventional Areas.............. 125.1 124.8 129.8 ........... ........... ........... ........... ........... ........... ........... ........... ...........
Oxygenated Areas................ 134.6 134.9 138.8 ........... ........... ........... ........... ........... ........... ........... ........... ...........
OPRG Areas...................... 140.0 139.4 140.6 ........... ........... ........... ........... ........... ........... ........... ........... ...........
RFG Areas....................... 130.5 130.7 134.7 ........... ........... ........... ........... ........... ........... ........... ........... ...........
On-Highway Diesel Fuel.............. 114.5 114.5 118.3 ........... ........... ........... ........... ........... ........... ........... ........... ...........
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1996 2/5 2/12 2/19 2/26 3/4 3/11 3/18 3/25 4/1 4/8 4/15 4/22
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Motor Gasoline...................... 113.0 112.8 113.3 115.3 117.0 117.1 118.1 121.0 122.3 124.8 128.7 130.1
Conventional Areas.............. 110.7 110.4 111.0 113.4 115.1 115.0 116.2 119.2 120.5 122.8 126.9 127.4
Oxygenated Areas................ 118.7 117.8 120.1 119.9 122.3 122.6 122.9 128.1 127.0 131.4 133.2 136.8
OPRG Areas...................... 127.3 127.0 126.7 126.7 127.5 127.7 127.7 129.1 130.9 132.2 136.0 138.0
RFG Areas....................... 117.4 117.1 117.4 119.2 120.7 121.3 122.0 124.3 126.0 128.7 133.1 137.0
Regular........................... 108.3 108.0 108.7 110.7 112.4 112.5 113.5 116.4 117.8 120.4 124.2 125.6
Conventional Areas.............. 106.3 106.1 106.6 109.0 110.7 110.5 111.9 114.9 116.2 118.5 122.5 123.0
Oxygenated Areas................ 114.9 113.9 116.0 116.0 116.1 118.6 119.0 122.2 123.2 127.5 129.3 132.8
OPRG Areas...................... 118.4 118.1 117.9 117.8 118.6 118.8 118.8 120.2 122.2 123.7 127.6 129.9
RFG Areas....................... 111.9 111.5 112.0 113.8 115.4 116.1 116.8 119.0 120.8 123.6 128.0 132.3
Midgrade.......................... 117.2 116.9 117.7 119.7 121.3 121.3 122.2 125.0 125.3 128.9 132.9 134.1
Conventional Areas.............. 114.9 114.6 115.4 117.7 119.3 119.3 120.4 123.2 124.5 126.9 131.0 131.6
Oxygenated Areas................ 123.2 122.0 125.0 124.9 128.2 127.3 127.4 131.1 131.6 136.4 138.0 141.5
OPRG Areas...................... 131.8 131.6 131.4 131.3 132.1 132.1 132.1 133.8 135.2 136.6 140.1 141.9
RFG Areas....................... 122.2 121.8 122.1 123.8 125.1 125.3 126.2 128.6 130.1 132.7 137.2 140.3
Premium........................... 126.9 125.5 127.1 129.1 130.8 130.8 131.7 134.5 135.7 138.1 142.2 143.8
Conventional Areas.............. 124.2 123.8 124.4 126.8 128.6 128.4 129.6 132.5 133.7 136.0 140.2 140.9
Oxygenated Areas................ 134.4 133.8 136.0 135.4 138.0 137.9 138.2 141.1 141.6 146.4 148.6 152.4
OPRG Areas...................... 139.8 139.5 139.0 139.3 140.8 140.3 140.2 141.7 143.2 144.2 147.9 149.5
RFG Areas....................... 130.4 130.1 130.2 132.1 133.3 133.8 134.6 137.0 138.4 140.8 145.3 148.9
On-Highway Diesel fuel.............. 113.0 113.4 115.1 116.4 117.5 117.3 117.2 121.0 122.2 124.9 130.5 130.4
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
NA-Not available.
Note: See Glossary for definitions of abbreviations. See Technical Note 1, page 40, for more information about the data in this table.
Sources: See page 34. Weekly Petroleum Status Report/Energy Information Administration.
Mr. PRYOR. Mr. President, I am going to sit down in just a moment. I
know my good friend from North Dakota, Senator Dorgan, is now on the
floor. But you are going to hear an awful lot now because it is 1996--
it is an even-numbered year--it is getting ready to be the last
election of this century, and it is going to be a humdinger. It is
going to be the one that we are going to tell our grandchildren and
great-grandchildren about, because it is going to get pretty exciting.
We are going to hear an awful lot about the 1993 economic plan, that
it was the biggest tax increase in history, will ruin the country,
whatever. I think we might start now setting that record straight. Look
at the Wall Street Journal, October 26, 1994. I quote the Wall Street
Journal:
Contrary to Republican claims, the 1993 package is not the
largest tax increase in history. The 1982 deficit-reduction
package of President Reagan and Senator Robert Dole in a GOP
controlled Senate was a bigger tax bill, both in 1993
adjusted dollars and as a percentage of the overall economy.
The Wall Street Journal, not exactly a left-wing, Democratic
newspaper, Mr. President.
Let us look at the Washington Post, February 1, 1995, recently and I
quote:
The biggest tax increase in history did not occur in the
Omnibus Reconciliation Act of 1993. The biggest increase in
post-World War II history occurred in 1982, under President
Ronald Reagan.
Mr. President, part of Senator Dole's historic tax increase was in
fact a 5-cent gasoline tax.
Let us look at November 3, 1995, Mr. President, not long ago.
It is not true that the $240 billion tax increase approved
by Congress in 1993, at Mr. Clinton's behest, is the largest
in American history. When adjusted for inflation--the only
way to make comparisons of dollar amounts from different
years--a tax increase endorsed by Mr. Dole, in 1982, when he
was chairman of the Senate Finance Committee, was larger.
So, Mr. President, as we hear a lot of these statements made on this
floor of this great institution, in the U.S. Senate, over the next
several months up until the election, I think from time to time it
behooves us well to come to this floor and to respond and set the facts
out and set the record straight. f
That is the purpose of my visit here this morning. I think as we go
forward in the next several weeks, as this debate intensifies, it will
be our obligation to come forward and spread the facts as to what the
real story is on the record.
I thank the Chair. I yield the floor.
The PRESIDING OFFICER. The Senator from North Dakota.
Mr. DORGAN. Are we in morning business?
The PRESIDING OFFICER. We are.
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