Paul also blasted Democratic legislation to strip oil companies of $21 billion in tax breaks. He said that effort would lead to even higher gas prices.
“Their solution [to high gas prices] is to raise taxes on oil companies?” asked Paul. “Do you know what taxes are? Taxes are simply a cost. If you run a business and I raise your cost, you will raise your prices.”
“That makes absolutely no sense, and that’s what's wrong up here in Washington,” said Paul. “We still have too many people who don't known the basic economic realities.”
The Senate is set to vote at around 6:15 p.m. on the tax breaks. Senators are widely expected to vote down the Democratic bill.
Democrats want to use the extra $21 billion in revenue from the repeal to pay down the country’s deficit.