Ken Buck Releases Statement in Support of Affordable Transportation
For Immediate Release
Contact: Kyle Huwa, 202-225-4676
Washington, D.C. – Today, Congressman Ken Buck released a statement in response to President Obama’s proposal to phase in a $10 tax on every barrel of oil. The President will suggest the tax hike, which will cost Americans over $30 billion per year at current consumption rates, in the budget he presents to Congress next week. Revenue raised through the tax will be used to fund wasteful green energy projects and cash hemorrhaging transportation projects.
“Every day, parents, farmers, and small business owners rely on affordable transportation, so a tax hike on fuel hits them the hardest,” Congressman Buck stated. “The federal government has no business picking winners and losers in the energy economy with our tax dollars.”
At current oil prices, every barrel of oil would be taxed at a 30% rate. Consumers will feel that cost at the pump in what could be a 24 cent per gallon increase. Experts suggest that every cent increase per gallon of gas amounts to an addition $1.5 billion cost to consumers.
Rep. Ken Buck (CO-04) is the Freshman Class President. He serves on the House Judiciary Committee and the House Committee on Oversight and Government Reform. He serves on the OGR Subcommittees on Government Operations and the Interior and is a member of the Judiciary Subcommittees on Immigration and Border Security and Crime, Terrorism, Homeland Security and Investigations.