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2005 Ron Paul Chapter 99
Not linked on Ron Paul’s Congressional website.
Congressional Record [.PDF]
Introduction Of The Affordable Gas Price Act
6 October 2005
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
Thursday, October 6, 2005
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Mr. PAUL. Mr. Speaker, I rise to introduce the Affordable Gas Price Act. This legislation
reduces gas prices by reforming government
policies that artificially inflate the price of gas.
As I need not remind my colleagues, the
American people have been hard hit in recent
months by skyrocketing gas prices. In some
parts of the country, gas prices have risen to
as much as $4 per gallon.
2005 Ron Paul 99:2
This increase in the price of gas threatens our already fragile economy and diminishes
the quality of life for all Americans. One industry
that is particularly hard hit is the trucking
industry. The effects of high gas prices on the
trucking industry will be reflected in increased
costs for numerous consumer goods, thus further
harming American consumers.
2005 Ron Paul 99:3
Unfortunately, many proposals to address the problem of higher energy prices involve increasing
government interference in the market
through policies such as price controls.
These big government solutions will, at best,
prove ineffective and, at worst, bring back the
fuel shortages and gas lines of the seventies.
2005 Ron Paul 99:4
Instead of expanding government, Congress should repeal Federal laws and policies that
raise the price of gas, either directly through
taxes or indirectly through regulations that discourage
the development of new fuel sources.
This is why my legislation repeals the Federal
moratorium on offshore drilling and allows oil
exploration in the ANWR reserve in Alaska.
My bill also ensures that the National Environmental
Policy Act’s environmental impact
statement requirement will no longer be used
as a tool to force refiners to waste valuable
time and capital on nuisance litigation. The Affordable
Gas Price Act also provides tax incentives
to encourage investment in new refineries.
2005 Ron Paul 99:5
Federal fuel taxes are a major part of gasoline’s cost. The Affordable Gas Price Act suspends
the Federal gasoline tax any time the
average gas prices exceeds $3 per gallon.
During the suspension, the Federal Government
will have a legal responsibility to ensure
the Federal highway trust fund remains funded.
My bill also raises the amount of mileage
reimbursement not subject to taxes, and, during
times of high oil prices, provides the same
mileage reimbursement benefit to charity and
medical organizations as provided to businesses.
2005 Ron Paul 99:6
Misguided and outdated trade policies are also artificially raising the price of gas. For instance,
even though Russia and Kazakhstan
allow their citizens the right and opportunity to
emigrate, they are still subject to Jackson-
Vanik sanctions, even though Jackson-Vanik
was a reaction to the Soviet Union’s highly restrictive
emigration policy. Eliminating Jackson-
Vanik’s threat of trade-restricting sanctions
would increase the United States access
to oil supplies from non-Arab countries. Thus,
my bill terminates the application of title IV of
the Trade Act of 1974 to Russia and
Kazakhstan, allowing Americans to enjoy the
benefits of free trade with these oil-producing
nations.
2005 Ron Paul 99:7
Finally, the Affordable Gas Price Act creates a Federal study on how the abandonment of
the gold standard and the adoption of freely
floating currencies are affecting the price of
oil. It is no coincidence that oil prices first became
an issue shortly after President Nixon
unilaterally severed the dollar’s last connection
to gold. The system of fiat money makes consumers
vulnerable to inflation and to constant
fluctuations in the prices of essential goods
such as oil.
2005 Ron Paul 99:8
In conclusion, Mr. Speaker, I urge my colleagues to support the Affordable Gas Price
Act and end government policies that increase
the cost of gasoline.
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