Warnock joins group proposing Gas Prices Relief Act

WASHINGTON — U.S. Senator the Rev. Raphael Warnock, D-Ga., a member of the Senate commerce and transportation committee, joined a group of his Senate colleagues in introducing the Gas Prices Relief Act. The new legislation would lower high gas prices by temporarily suspending the federal gas tax through the end of the year, bringing economic relief to families across Georgia and the country.

Warnock’s legislation is co-sponsored by Senators Mark Kelly, D-Ariz.; Maggie Hassan, D-N.H.; Debbie Stabenow, D-Mich.; Catherine Cortez Masto, D-Nev.; and Jackie Rosen, D-Nev.

“Whether it’s working to ease supply chain issues, crack down on corporate greed, or cap out-of-pocket costs for prescription drugs, I’m committed to lowering rising costs for Georgia families,” Warnock said in a news release. “Hard-working Georgians being squeezed at the pump understand that every penny counts, and the Gas Prices Relief Act is my latest effort to help working- and middle-class families overcome the economic pressures of the pandemic, and come out on top.”

The Gas Prices Relief Act would lower high gas prices and deliver much-needed economic relief to Georgians and Americans across the country by:

— Suspending the 18.4-cents-per-gallon federal gas tax until Jan. 1. Currently, the national average for the cost of a gallon of gas is nearly one dollar higher than it was at the same time last year, according to AAA. In Georgia, “motorists are now paying an average price of $3.24 per gallon for regular unleaded gasoline,” and as of Feb. 7, the state average for a gallon of gas “is 4 cents more than a week ago, 13 cents more than last month, and 96 cents more than this time last year.”

— Passing tax savings to Americans and not oil and gas companies by requiring the Secretary of the Treasury to monitor the program in order to ensure oil and gas companies pass along the savings at the pump to consumers. The bill also encourages the Secretary to take appropriate enforcement actions to ensure consumers see these savings.

— Maintaining the integrity of the Highway Trust Fund by requiring the Department of the Treasury to make general fund transfers to keep the Highway Trust Fund solvent.

Warnock’s press release said his latest proposed legislation builds on his work in the Senate to lower rising costs for Georgia families. He has worked, he noted, to bring down rising costs by addressing tensions in the supply chain, both by loosening $8 million to help the Port of Savannah deal with its backlog and supporting strong investments in domestic semiconductor manufacturing to bring down the prices of cars, washing machines, and more.

Warnock also has, he said, championed efforts to cap prescription drug costs for families and seniors, and on Monday the Senator called for a federal investigation into apparent price-gouging by ocean carriers that have profited off the pandemic and contributed to rising costs on Georgia consumers.

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