Senate Republicans: Give More Money to Iran
By Arnold Kling
Senate Republicans unveiled a proposal on Thursday to soften the blow of rapidly rising gasoline prices by suspending a retail fuel tax and paying for the lost revenue by also suspending some oil industry tax breaks.
… the energy legislation would suspend until September 30 the 18.4-cents-per-gallon retail gasoline tax
So…for every gallon of gas we consume at the market-clearing price, we will pay less in taxes, leaving more to go into Iran’s pockets. And if that does not help our friends overseas enough, we’ll raise taxes on our own oil companies, so they won’t drill so much.
I wish we could suspend the Senate until September 30.