Feb 25, 2016

Do Clinton and Sanders Support President Obama’s Oil Tax?

Post by Derek Yale

Arlington, VA — This morning Freedom Partners released a new web video about President Obama’s $10-per-barrel oil tax proposal, which would hurt American families by hiking the price that drivers pay at the pump.

You can see the new video here.

As Hillary Clinton and Bernie Sanders campaign in South Carolina this week—where there’s already a fierce debate about raising the gas tax—it begs the question: Do these candidates support the president’s oil tax hike? Experts predict that the tax would add as much as 25 cents per gallon to the cost of gasoline, but so far Clinton and Sanders have been silent.

President Obama’s Oil Tax Would Fall Squarely On Lower- And Middle-Income Families

Earlier This Month, President Obama Called For A $10-Per-Barrel Oil Tax. (Michael Grunwald, “Obama To Propose $10-A-Barrel Oil Tax,” Politico, 02/04/16)

“The Fee Could Add As Much As 25 Cents A Gallon To The Cost Of Gasoline.” (Michael Grunwald, “Obama To Propose $10-A-Barrel Oil Tax,” Politico, 02/04/16)

“The Proposal Could Be Particularly Awkward For Hillary Clinton, Who Has Embraced Most Of Obama’s Policies But Has Also Vowed To Oppose Any Tax Hikes On Families Earning Less Than $250,000 A Year.” (Michael Grunwald, “Obama To Propose $10-A-Barrel Oil Tax,” Politico, 02/04/16)

The Obama Administration Has Already Admitted That The Cost Would Likely Be Passed On To Consumers. “Consumers will likely pay the price for President Obama’s proposed $10 tax per-barrel of oil, an administration official and a prominent analyst said Thursday. . . . ‘This is a per-barrel fee on oil paid for by oil companies,’ White House economic adviser Jeff Zients told reporters Thursday. ‘So they’re the ones paying the fee. We recognize that oil companies will likely pass on some of these costs.’” (Nathan Bomey, “Obama’s $10 Oil Tax Proposal Would Cost Motorists,” USA Today, 02/05/16)

This Week, Senate Energy And Natural Resources Committee Chairwoman Lisa Murkowski Released A New Analysis Demonstrating That President Obama’s Oil Tax “Actually Costs An Additional $8 Billion Over The Next Decade—For A Total Of $319 Billion.” (“Sen. Murkowski Releases Second CRS Analysis of Admin.’s Oil Tax,” United States Senate, 02/23/16)

“The Study Examines A Change The Administration Made To Its Initial Tax, Raising It A Quarter From $10 To $10.25 Per Barrel Of Oil.” (John Siciliano, “Obama’s Oil Tax To Cost $8 Billion, Study Finds,” Washington Examiner, 02/23/16)