Austin, Texas - While the federal government struggles to address soaring energy prices, President Joe Biden this week said he wants Congress to suspend the federal gas tax for three months, giving Americans a "gas tax holiday" that would last through the month of September. In response, the Texas Independent Producers & Royalty Owners Association (TIPRO) has issued the following statement, which can be attributed to TIPRO's President Ed Longanecker:

“American consumers are undoubtedly hurting from rising inflation and feeling the pain at the gas pump. While officials may be working in good faith to make energy more affordable for working families, there are simply more impactful policy options than lifting the gas tax being left on the table right now. To lower prices, we need long-term balance in oil and gas markets. Producers and investors need greater regulatory stability to increase domestic oil and gas production and bring more supplies online. The administration should allow more drilling on federal lands and waters, streamline federal permitting processes and accelerate infrastructure development, as well as avoid overly-burdensome regulations that threaten to discourage investment. While federal leaders claim they want to 'encourage oil companies to boost capacity and output,' the reality is the president is sending mixed messages with his policy positions and regulatory agenda. 

Further, a gas tax holiday is likely to only have a limited impact on household energy expenses, while taking significant funds away from important infrastructure projects. Instead, the president and his administration must implement policies that will expand U.S. supply to balance out the market and pull-down skyrocketing gas prices.”