Congressman Adam Schiff proposes plan to cut gas prices and tax oil companies
On Tuesday, Schiff introduced a bill to first eliminate the federal gas tax until end the end of 2023, knocking down the prices of gas across the country by about 18 cents. However, since the federal gas tax funds transportation and mass transit projects Schiff plans to offset the cost with the part of his proposal which would tax big oil companies after what he calls "excessive windfall profits." Joy Benedict reports.