House Republicans are pitching legislation cued up for a floor vote this week as a salve to high gasoline and electric costs, though it remains hazy how quickly and aggressively the measure would lower prices.
The bill contains no obvious provisions to help consumers, like direct subsidies or tax credits. Instead, Republicans said they hope to spur domestic oil and gas production, which they contend would lower prices and have some knock-on benefits.
“The main goal is to lower energy prices,” House Natural Resources Chairman Bruce Westerman, R-Ark., said in a recent interview. “But there’s some benefits that come along with that, like energy security and also national security. And in the process of that, you get economic growth in the U.S.”
