Sen. Cortez Masto Seeks To Reduce Gas Prices By Increasing Power Of The FTC
Cortez Masto has revived the Fair and Transparent Gas Prices Act
By Megan Barth, January 26, 2023 1:32 pm
Nevada is the fourth most expensive state when it comes to gas prices, partially due to AB525 which automatically raises Nevada’s fuel tax by the exact amount of any reduction at the federal level.
In his recent State of the State address, Governor Joe Lombardo appealed to the Democratic majority to eliminate the gas tax for one year in order to provide substantial savings to hard working Nevadans.
Democrats have yet to publicly embrace his idea, but in 2019, they did embrace passing another gas tax bill which allows counties to implement a tax on diesel. Senate Bill 48 passed during the 2019 session of the Nevada Legislature allows counties to impose a one to five cent tax on diesel fuel, either through an ordinance passed by a governing body such as the board or by a ballot question.
Despite all of the gas taxes in Nevada, Democratic senator Catherine Cortez Masto wants to reduce gas prices by increasing the investigative power and authority of the Federal Trade Commission.
The Las Vegas Sun reports:
The Fair and Transparent Gas Prices Act, if passed, would give the Federal Trade Commission the authority and resources to investigate large petroleum companies that could be engaging in market manipulation or price gouging.
“Our families need relief at the pump,” Cortez Masto told the Sun. “The issue around gas prices was the No. 1 thing I heard from Nevadans.”
“I think it’s important to continue to understand the issues around the gas prices,” she said. “So I am committed to talking with my colleagues on both sides of the aisle to really give what I think is important for the FTC the tools they need to study this.”
“This is a study that is important for the FTC to start to move forward for and then report to Congress on what they have found,” Cortez Masto said. “As you well know, we’re tied to California so what is going on here? And why are these prices so high?”
“I can only tell you what I saw in Nevada, around rising costs for so many families,” she said. “It is about addressing the challenges that our working families in Nevada are dealing with right now. I’m committed to continuing lowering costs.”
Cortez Masto introduced this bill in April 2022 but it failed to make it out of committee.