>> WELCOME BACK, EVERYBODY.
THE ADMINISTRATION IS PUSHING A
GAS TAX HOMED, A FEDERAL GAS TAX
HOLIDAY, GIVING YOU A
THREE-MONTH REPRIEVE FROM THE
FEDERAL GAS TAX, ABOUT 18.3
CENTS A GALLON, AND WIPE OUT
SOME OF THE OTHERS YOU’RE SEEING
ON DIESEL, ABOUT A NICKEL MORE.
AGAIN, FOR THREE MONTHS.
IT NEEDS CONGRESS TO WRITE OFF
ON THIS.
LET’S GO TO ROB PORTMAN, THE
SENATOR FROM THE BEAUTIFUL STATE
OF OHIO.
WHAT DO YOU THINK, SENATOR?
>> NEIL, IT’S NOT THE SOLUTION
OBVIOUSLY.
IT’S ABOUT 3.6% OF THE COST OF
GAS.
WE’RE ALL DYING WITH HIGH GAS
PRICES, PEOPLE COMMUTING, PEOPLE
ON A FIXED INCOME.
A TRUCKER OVER THE WEEKEND IS
PAYING $1500 TO FILL UP HIS
18-WHEELER.
IT’S A PUNITIVE TAX.
>> IS THAT A NO, SENATOR, THAT
YOU WOULD NOT VOTE FOR THAT?
>> WELL, I WOULD TAKE A LOOK AT
IT.
IS THE MONEY GOING TO COME OUT
OF THE HIGHWAY TRUST FUND?
IN OTHER WORDS, FEWER ROADS AND
BRIDGES.
YOU KNOW, INFLATION IS HITTING
THERE TOO.
WE’RE HAVING A TOUGH TIME
KEEPING UP.
YOU KNOW, IS IT GOING TO BE FOR
HOW LONG?
SO IF IT’S 3.6% OF THE COST OF
GAS THAT WOULD HELP, BUT WHAT
WOULD HELP A LOT MORE IF WE HAD
MORE PRODUCTION OF GAS AND OIL.
OIL OBVIOUSLY IS THE BIGGEST
PART OF GASOLINE, NEXT TO
REFINING.
NEXT FEDERAL TAXES, AND THEN
STATE TAXES.
LET’S GET PRODUCTION UP.
THAT’S A REAL OPPORTUNITY.
THE ADMINISTRATION TRIED TO
STIFLE PRODUCTION OF FOSSIL
FUELS, INCLUDING GAS AND OIL.
UNFORTUNATELY THAT’S BEGINNING
TO CAUSE BIG PROBLEMS.
THAT AND INCREASED DEMAND THAT
CAME OUT OF THE PANDEMIC.
THAT’S THE BIGGEST THING TO DO,
IS TO TELL THESE COMPANIES,
LOOK, WE’RE NOT GOING TO
UNDERCUT YOU, AS WE DID WITH THE
KEYSTONE --
>> SENATOR, JARED BERNSTEIN, WHO
SERVES ON THE COUNCIL OF
ECONOMIC ADVISORS FOR PRESIDENT
BIDEN, AND THEY SAY THEY’RE NOT
DOING ANYTHING TO DISRUPT THE
OIL COMPANIES.
WHAT DO YOU THINK OF THAT?
>> FIRST, DID A GOOD JOB COUNTER
THAT.
I WOULD SAY TWO THINGS.
ONE, YES, THEY ARE, BECAUSE IF
YOU LOOK AT PERMITTING ISSUES,
THEY’RE GIVING EXPLICIT
INSTRUCTIONS TO THE AGENCIES
WITH REGARD TO SO-CALLED WATERS
OF THE UNITED STATES, WHICH IS
SOMETHING THAT THE OIL AND GAS
COMPANIES CARE A LOT ABOUT.
THE PERMITTING IS VERY
DIFFICULT.
SECOND, THEY’RE SENDING EVERY
INDICATION, BY SAYING NO
PRODUCTION ON FEDERAL LANDS AND
WATERS, AND STOPPING KEYSTONE
AND PIPELINES AROUND THE
COUNTRY, LOOK, IF YOU MAKE THE
INVESTMENTS, WE MAY PULL THE RUG
OUT FROM UNDER YOU.
IT’S DIFFICULT TO GET THE
AMERICAN COMPANIES TO MAKE THE
INVESTMENTS WE WANT THEM TO MAKE
TO HAVE THE FOSSIL FUELS.
BY THE WAY, THERE WILL BE A
TRANSITION TO A GREENER ECONOMY.
THERE WILL BE, BUT IT’S GOING TO
TAKE TIME. YOU CAN’T IMMEDIATELY SAY WE’RE
YOU CAN’T IMMEDIATELY SAY WE’RE
GOING TO STOP FOSSIL FUELS.
>> YOU AMONG WITH A GROUP OF
SENATORS WHO SUPPORT THE
GREATEST GUN RESOLUTION,
SENATOR.
AND I THINK NOW IT’S ACTUALLY 14
REPUBLICANS STRONG.
THE SO DO YOU THINK THIS PASSES?
BECAUSE, YOU KNOW, THE NRA
DOESN’T LIKE THIS, AND SAYS
THERE’S NOTHING IN IT THAT IT
LIKES.
WHAT DO YOU THINK OF THAT?
>> WE MADE A NUMBER OF CHANGES,
AS YOU KNOW, JOHN CORNAN TAKING
THE LEAD.
IT INCLUDES A NUMBER OF THINGS
THEY WANTED, INCLUDING SAYING,
AS AN EXAMPLE, WITH REGARD TO
THE RECORDS OF JUVENILES THAT
WILL NOW BE PROVIDED, WHICH, BY
THE WAY, EVERYBODY THINKS SHOULD
BE IN THESE RECORDS, THAT THERE
WILL BE A SUNSET TO THAT WITH
REGARD TO THE SO-CALLED LOOPHOLE
RIGHT NOW FOR A BOYFRIEND IF
THERE’S A SEXUAL ASSAULT, THAT
THAT PERSON SHOULD BE --
>> RIGHT.
>> THERE’S ALSO AN IMMEDIATE
REVOCATION OF A PERSON’S RIGHTS
AFTER FIVE YEARS, NOT IN CURRENT
LAW.
THERE’S THINGS THEY WANTED THAT
GOT IN THERE THAT ARE PRO SECOND
AMENDMENT.
JUST IN GENERAL, YEAH, I THINK
IT WILL PASS TO ANSWER YOUR
QUESTION.
I THINK THERE WILL BE MORE THAN
14.
I DON’T KNOW HOW MANY.
15, 16K 17 SENATORS WHO SUPPORT
IT IN THE END.
IT’S COMMON-SENSE STUFF.
THE BIGGEST PART IS MENTAL
HEALTH, WHICH IS ALL OF US HAVE
BEEN SAYING ON THE REPUBLICAN
SIDE FOR A LONG TIME, IS WHEN
YOU ACTUALLY LOOK AT WHAT’S
HAPPENING HERE, AND
UNFORTUNATELY ALMOST EVERY
SINGLE ONE OF THESE CASES,
CERTAINLY THE MASS SHOOTINGS
THAT ARE IN THESE -- THESE
HORRIFIC MASS SHOOTINGS AT
SCHOOLS, IT’S A MENTAL HEALTH
ISSUE, THAT THIS PERSON IS
MENTALLY ILL, NOT GETTING THE
SUPPORT THAT HE NEEDS, BECAUSE
IT’S USUALLY A YOUNG MALE.
THAT’S HUGE IN THIS LEGISLATION.
THAT’S THE BIGGEST PART BY FAR.
SECOND IS SCHOOL SAFETY.
THERE I THINK THERE’S AN
AGREEMENT AMONG REPUBLICANS.
THEN ON THIS NOTION OF INSURING
THAT A JUVENILE’S RECORDS ARE
LOOKED AT, I THINK MOST
REPUBLICANS ARE STRONGLY IN
SUPPORT OF THAT.
YOU KNOW, IF YOU HAVE, AS WAS
THE CASE IN THE TEXAS SITUATION,
A JUVENILE RECORD, SO A CRIMINAL
RECORD, IN ESSENCE, A JUVENILE
RECORD, THAT IS SEALED OR
EXPUNGED, THAT OBVIOUSLY SHOULD
BE TAKEN INTO ACCOUNT WHEN
SOMEBODY --
>> BUT DOES THAT ALSO MEAN --
THAT’S A SEPARATE ISSUE THAT
SOME OF YOUR DEMOCRATIC
COLLEAGUES WANTED, SENATOR, TO
REIN IN THE SALE OF GUNS,
ASSAULT WEAPONS, AND
CONTROVERSIAL ONES FOR UNDER 21.
THAT’S NOT PART OF THIS, RIGHT?
>> NO, THAT’S NOT PART OF IT.
THERE’S NOTHING LIKE THAT IN
HERE.
THERE’S A WHOLE SLEW OF THINGS
THEY ASKED FOR THAT ARE NOT IN
HERE.
THIS WILL HELP.
BECAUSE OF THE MENTAL HEALTH
REALITY OF THE SITUATION,
BECAUSE OF THE SCHOOL SAFETY
ISSUE, WHICH IS REAL, AND ALSO
BECAUSE OF GUNS GETTING IN THE
HANDS OF DANGEROUS PEOPLE THAT
NOBODY WOULD WANT, HAVING THAT
INFORMATION IN THE NATIONAL
BACKGROUND SYSTEM, I THINK IT’S
COMMON-SENSE LEGISLATION.
I DO THINK IT WILL PASS EASILY.
THE QUESTION IS, WILL ALL
DEMOCRATS SUPPORT IT?
THEY WANT IT TO GO FURTHER.
THE HOUSE WANTS TO GO FURTHER.
I HOPE THEY REALIZE THAT
ALTHOUGH THIS ISN’T WHAT THEY
WANT THAT WILL BE HELPFUL TO
AVOID FURTHER TRAGIC INSTANCES
LIKE WE JUST SAW IN UVALDE.
>> BOTH SIDES ARE NOT HAPPY.
AT LEAST THAT SHOWS THAT BOTH
SIDES HAVE GIVEN AND TAKEN A
LITTLE BIT HERE.
WE’LL SEE WHAT HAPPENS HERE.
>> YEAH, YEAH.
>> SEPARATELY YOU’VE BEEN
LOOKING AT WHAT’S BEEN HAPPENING
IN THE ECONOMY, AND A LOT OF
FOLKS BUMPING INTO THEIR
RETIREMENT SAVINGS, HAVE BEEN
WALLOPED.
YOU’RE TRYING TO DO SOMETHING
ABOUT THAT.
COULD YOU UPDATE ABOUT THAT?
>> INFLATION IS ONE OF THE MOST
PUNITIVE TAXES.
WHAT’S HAPPENED BECAUSE OF THE
PANDEMIC, AND INFLATION, PEOPLE
HAVE LESS DISPOSABLE INCOME
BECAUSE IT’S GOING TO PAY FOR
GAS, GROCERIES, AND CLOTHES.
THEY AREN’T SAVING LIKE THEY
SHOULD BE.
WE HAPPEN TO HAVE A BIPARTISAN
MIDDLE GROUND, VERY POSITIVE
BILL, THAT HELPS PEOPLE SAVE
MORE IN THEIR 401(K), IRA, GET
SMALL BUSINESSES ENGAGED IN
OFFERING A PLAN.
ONLY ABOUT HALF OF THEM DO.
SO EVERYBODY HAS A CHANCE TO GET
MONEY INTO RETIREMENT, TO HAVE A
RETIREMENT NEST EGG TO HAVE
PEACE OF MIND IN RETIREMENT.
TODAY WE PASSED IT OUT OF
COMMITTEE, IT’S GOING TO THE
FLOOR, AND IT’S GREAT STUFF.
I ENJOYED COMMENTS TODAY IN
COMMITTEE, WHEN INFLATION
STARTED LONG BEFORE THE INVASION
OF UKRAINE.