Senator Reverend Warnock: “Hardworking Georgians being squeezed at the pump understand that every penny counts, and the Gas Prices Relief Actis my latest effort to help working and middle class families overcome the economic pressures of the pandemic, and come out on top”

Bill would temporarily suspend the 18 cents per gallon federal gas tax, provide families economic relief from high gas prices

According to AAA, as of February 7 the average price for a gallon of gas in Georgia is 4 cents more than a week ago, 13 cents more than in January, and 96 cents more than this time in 2021

Legislation marks Senator Reverend Warnock’s most recent effort to lower costs for Georgia families, following call for federal investigation into price-gouging by ocean carriers, efforts to ease supply chain tensions, and push to cap expensive prescription drug costs for patients in Georgia and nationwide  

Washington, D.C. –  Today, U.S. Senator Reverend 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 much-needed economic relief to families across Georgia and the country. Senator Warnock’s legislation is also co-sponsored by U.S. Senators Mark Kelly (D-AZ), Maggie Hassan (D-NH), Debbie Stabenow (D-MI), Catherine Cortez Masto (D-NV) and Jackie Rosen (D-NV).

“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,” said Senator Reverend Warnock. “Hardworking Georgians being squeezed at the pump understand that every penny counts, and the Gas Prices Relief Actis 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 January 1, 2023. 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 February 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. 

Senator Warnock’s legislation builds on his work in the Senate to lower rising costs for Georgia families. Senator Warnock has worked 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. Senator Warnock has also 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 who have profited off the pandemic and contributed to rising costs on Georgia consumers.

To read the text of the Gas Prices Relief Act, click HERE.

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