Really, Rep. Yarmuth? This sounds like the most hair-brained idea we’ve heard in quite a while and we frankly had higher expectations of our local leadership. John Yarmuth announced this week that he’s introducing a bill in Congress to end federal subsidies to oil companies that are approaching $40 billion a year. Now while this might be something we could get behind, it’s how he plans to use the American taxpayer’s money wrestled back from big oil that really makes no sense.
According to LEO Weekly‘s Fatlip blog (a newspaper the Congressman founded many years ago), Yarmuth gathered supporters and the press at a picturesque local gas station to detail his plan. There’s a lot that could be done with $40 billion in this country, but Yarmuth decided its highest and best use would be to send it to the cars of America.
He proposed that each of the 250 million or so vehicles in this country be the beneficiary of the subsidy savings to the tune of a one-time payment of $160 per registered vehicle. Not the American taxpayers who have paid the subsidy, not American families, but the cars that some of those taxpayers choose to drive. If you don’t own a car, too bad.
According to Fatlip:
The legislation would instruct the Internal Revenue Service and the Secretary of the Treasury to work with states to oversee and distribute the rebates to individuals and businesses for each vehicle owned or leased for over one year.
Instead of pandering to motorist’s fears of rising gas prices with a free cash handout, perhaps our leaders should be offering real leadership in addressing America’s addiction to oil instead of wasting our time and money with ideas like subsidizing car ownership that are only going to make solving the problem more difficult.