Hey America, did you know that we’re at near record low gasoline inventory levels in the United States? What do you do when you’re running short of a declining resource? Do you carefully husband the resource so it will last as long as possible? “No!” proclaims Congresscritter Zack Space of Ohio. “Let’s pass money around so we can use it up even faster!”
I announced my plan to introduce the Rural Commuters Tax Relief Act of 2007. This legislation could not be simpler: If your household makes less than the national median income, you drive more than 30 miles to work and you work at least four days per week, then you receive a $100 tax credit for each month that the average price of gas is more than $3 per gallon.
The U.S. household median income in 2006 was $48,200. If you’re married filing jointly with two children, you can easily find enough deduction to bring your federal tax burden to less than $3000. With this tax credit you can chop your tax bill nearly in half!
It’s nice that Mr. Space is pulling for the little guy, but I and others have been warning for years that the affordable house out in the exurban prairie won’t be so affordable once oil prices start the inevitable climb right about now.