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Date: Fri, 07 Apr 2000 12:52:05 -0400
From: "Sen. Grassley - IA" <[log in to unmask]>
Subject:
To: "[log in to unmask]" <[log in to unmask]>

Dear Mr. Bavousett:

I would like to take this opportunity to inform you of the Senate's
recent action to lower diesel fuel and gasoline prices.

On March 30, the Senate voted to consider legislation (S. 2285) that
would temporarily reduce fuel taxes on gasoline and diesel fuel.  S.
2285 would suspend the 4.3-cent per gallon federal excise tax on
gasoline and diesel from April 16 to December 31, 2000.  In the event
that the national average price of unleaded gasoline rises to $2 per
gallon or more, this legislation would further suspend all federal
excise taxes on fuel, which is currently 18.4 cents per gallon of
gasoline, and 24.4 cents per gallon of diesel fuel.  Lastly, S. 2285
would guarantee that both the immediate and the triggered excise tax
suspensions do not result in a reduction of highway funding this year or
any year in the future.  This legislation would replace, dollar for
dollar, lost revenues to the Highway Trust Fund from on-budget surplus
dollars.  I voted in support of consideration of S. 2285.


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Rex L. Bavousett
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University of Iowa
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