Los Angeles area Congressman Adam Schiff is proposing a new bill to suspend the federal gas tax of 18 cents per gallon, while having the money that usually would go to road projects paid for by oil companies.
During his press conference, Schiff stated that oil company profits jumped 300% in the first quarter of 2022 (compared to first quarter of 2021) “This is unacceptable,” said Schiff. “Our workers and families should not be padding big oil’s bottom lines.”
NBC San Diego says the White House is also releasing a million barrels a day from the federal oil reserves.
Republicans in Sacramento are still pushing to suspend the California gas tax of 51 cents per gallon.
That State tax is set to increase in July by a few cents per gallon because of inflation.