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As reports surface the White House is considering a federal gas tax holiday to ease some of the pain of Americans at the pump, South Carolina Republican Sen. Tim Scott told Fox News that the move would be a long-term response to the energy crisis. as will not work.
While wiping out the 18.4 cents the federal government would create mild short-term easing from each gallon of gasoline sold, it would likely be swallowed up by ever-rising prices and is essentially an attempt to portray relief, Scott said. .
The tax, which is about 25 cents-per-gallon for diesel, is on top of separate state gas taxes and creates $50 billion in annual revenue, the lawmaker said – the real solution lies in reverting to pre-Biden policies. Such is the rise in speculation of domestic fuel.
“When we’re going to try to trick the market and suggest we can lower your prices by easing tax pressure, that’s great. But unfortunately, the way gas ticks every single week.” The reduction in price has been ended for about 12 days.”
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“So the truth is that we need to restart the conversation about the Keystone XL pipeline to bring confidence to the market,” he said, as Biden approached the project with the stroke of a pen on his first day in office. signed off.
Taking all taxes and fees into account, California at 67 cents; Pennsylvania and Illinois have the highest state fees at 59 cents-per-gallon, while Alaska has the lowest at 15 cents and Missouri has the lowest at 17 CPGs—all on top of the 18 CPG federal rate.
“We need certainty and predictability so that those energy producers think they can invest billions of dollars to extract energy from the soil so that we can use it in our tanks,” he said.
Scott said that without a predictable, coherent energy policy and the re-emergence of US pipeline construction, Biden is merely moving data around and not affecting the long-term futures market.
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Scott also took issue with the administration’s plan for student loan forgiveness — which would transfer the financial burden from young debtors to the American taxpayer.
“Just imagine who the students are in college today and how many of those students look like me,” said the lawmaker, who is black.
“The truth is, when you are negotiating about erasing $1.6 trillion of student loan debt, you are not negotiating empowering African-Americans through the elimination of student loan debt. That’s a conversation between middle-income America that represents the vast majority of student loan debt.”
“Can we have a conversation about managing that student loan debt? Sure. But to eliminate that debt, the government-legal way isn’t the way to get us there.”
He also reacted to the advent of the latest gun control and reform legislation, commenting on his previous conversations on the topic of criminal justice reform with Sen. Cory Booker, DNJ and others a few years ago.
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“I sat at the table twice and watched the Democrats walk away. I’m still standing at the table today, still working on police reform,” he said.
“Let’s put both sides aside and realize that the binary options they have presented to the American people among communities of color and law enforcement are a false binary.”
“What I’ve seen in legislation so far is the focus and emphasis placed on mental health and school safety. Those are two very important parts of the vehicle. If that’s a vehicle, we Republicans enough to look at it. And investigate it.” are doing.”
Scott, however, said he isn’t afraid to walk the proverbial table if the package violates Second Amendment rights for citizens.
Charles Kritz is a reporter for Fox News Digital.