Mark Kennedy - Gas Pump

America is too dependent on foreign sources of oil, raising the cost at the pump and threatening our security. We need to harness the same spirit that got a man to the moon to become energy independent. That's why I introduced a bi-partisan bill that would take tax breaks away from the oil companies and redirect them to double incentives for E85, ethanol, and hybrid technology (H.R. 4623).

I also support a plan that would expand the use of renewable fuels like ethanol and biodiesel by implementing the 10x10 and 25x25 plan that requires the U.S. fuel supply to consist of 10% renewable fuels like ethanol by 2010 and 25% by 2025.

Finally, I've proposed to temporarily suspend the federal gas tax, which would immediately lower prices at the pump by 18.4 cents per gallon. The Highway Trust Fund would remain fully funded by collecting deep-water lease royalty fees that were previously uncollected due to an oversight of the Management and Mineral Service. The $7 billion would bring the past-due accounts of deep-water oil companies up to date and hold the Highway Trust Fund harmless without raising taxes (H.R. 5302).

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