[Congressional Record Volume 151, Number 79 (Wednesday, June 15, 2005)]
[Extensions of Remarks]
[Page E1240]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           INTRODUCING THE GAS PRICE SPIKE RELIEF ACT OF 2005

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                         HON. ALCEE L. HASTINGS

                               of florida

                    in the house of representatives

                        Wednesday, June 15, 2005

  Mr. HASTINGS of Florida. Mr. Speaker, I rise today to introduce 
legislation that will help ease the effect on consumers and airline 
passengers if the price of gas spikes dramatically. This bill reduces 
or refunds federal tax on gasoline and motor fuel when the price of gas 
spikes dramatically.
  My legislation, the Gas Price Spike Relief Act of 2005, temporarily 
cuts the federal gas tax for consumers by providing a tax refund to 
retailers if the price of motor or aviation fuel rises 10 percent 
during the course of a month. When the price of fuel jumps this 
drastically, the Gas Price Spike Relief Act will reduce the tax on 
motor and aviation fuel by 4.3 cents/gallon and allow retailers to 
apply for a refund of this tax, ensuring that this tax relief will not 
affect any money designated for the repair of highways and roads 
through the Highway Trust Fund. Providing this relief will spur the 
reduction of gasoline prices at the pump as well as the price of 
airline tickets.
  This legislation address a growing need to provide relief to average 
Americans from wildly fluctuating gas prices. For example, from March 
to April of 2005, the cost to fill up a tank of gas rose by more than 
10 percent. That's more than twice the increase for the same period 
last year! We need to be helping working families out--not abandoning 
them like Republicans have--when no logical explanation exists for 
ridiculous gas price spikes.
  Mr. Speaker, I urge my colleagues to support this legislation. Gas 
prices have gotten out of control. This legislation will provide some 
needed relief while maintaining the gas price stability our Nation 
needs. I look forward to working with my colleagues and moving this 
legislation forward.

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