Finding timely solutions to high energy costs is a matter of critical importance to small business. NFIB has voiced its support for several proposals that would lower energy costs while protecting small business.
This week, both the House and Senate passed H.R. 6022, which would suspend deliveries to the Strategic Petroleum Reserve through the end of the year so long as the price of crude oil remains above $75 per barrel. NFIB strongly supports H.R. 6022, and both the House and Senate plan to send a bill to the president for his signature.
NFIB strongly supports
- Suspending the federal gas tax, from Memorial Day through Labor Day;
- Reducing the federal diesel tax from 24.3 cents per gallon to 18.3 cents per gallon;
- A temporary freeze on oil shipments to the Strategic Petroleum Reserve; and
- Exploring domestic energy supplies in an environmentally friendly way
Pass the gas tax holiday now
- The cost of gas per gallon is at a record high and is directly impacting the cost of doing business.
- The bipartisan proposal is supported by presidential candidates John McCain and Hillary Clinton, as well as members of Congress from both parties.
- For a small business owner that fills up a 20-gallon tank, this would be a total savings of $3.66 per fill-up.
- For businesses that fill up multiple vehicles several times a week, this results in real savings.
Pass the diesel tax parity act now
- S. 2896 reduces the federal diesel tax from 24.3 cents per gallon to 18.3 cents per gallon (the current federal tax on gasoline).
- Reducing this tax is a good step to help relieve the burden of high diesel prices on small-business owners who operate diesel fuel vehicles.
Increase domestic supplies now to protect our future
The longer we wait to explore domestic energy supplies, the more it will cost at the pump
- NFIB supports opening the Arctic National Wildlife Refuge (ANWR) to oil exploration.
- Unfortunately, the Senate recently rejected an amendment that would have expanded domestic oil production in ANWR and exploration in coastal waters.
- Since 1991 when the price of gas was just $1.75 per gallon, the Senate voted over 10 times to open ANWR to oil exploration but these efforts were blocked by environmentalists.
- States should be able to petition to lift federal moratoriums on offshore drilling in places such as the Outer Continental Shelf.
- Refinery approvals should be expedited to speed up the process for domestic supply opportunities.
Suspend oil deliveries to the Strategic Petroleum Reserve
- Congress recently voted to temporarily freeze oil shipments to the Strategic Petroleum Reserve.
- NFIB supports this measure, and believes it should remain in effect until prices Fall.
