Tuesday, September 06, 2005

Ford Calls for 30 Day Suspension of Federal Gas Tax

This week, Congressman Harold Ford, Jr. will ask his colleagues to join him in passing legislation suspending the 18.4 cent per gallon federal excise tax on gasoline. In anticipation of the legislation, Ford released the following statement:

"The result of a failed national energy policy combined with Hurricane Katrina has produced an average price per gallon in Tennessee of $3.07. The pinch at the pump for Tennesseans is too high. This week, I will ask the Republican leadership in Congress to bring to the floor a bill to suspend the 18.4 cent per gallon gasoline tax for thirty days.

"In the meantime, Congress should also pass legislation to do three things. First, we should call on automakers to deploy technology to dramatically increase mile per gallon standards, commonly called CAFE standards, in their new cars and trucks. Second, we should enact more aggressive tax credits for renewable sources of energy and provide incentives for companies in Oak Ridge and the East Tennessee Technology Corridor to develop technology that will reduce our dependence on Middle East oil. Third, we should promote technology that will allow farmers to convert crops like soybeans and corn into alternative sources of energy.

"Now is not the time to shy away from creative and bold approaches. We need to pursue every avenue available to ease the burden on families and businesses across Tennessee and the nation."