Greg Iacurci writes in CNBC on why high gas prices hurt low-income families.
- High energy costs disproportionately harm low and middle-income families.
- For households earning $15,000 or less, spending on gasoline comprises 3.4% of total annual spending.
- High income households (those earning $200,000 or more) spend only 2% of their budget on gas.
- While gas prices are global in nature, reducing regulations domestically could increase production and lower costs.
Read the full article here.
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