Senator calls for investigation of gas and electric prices

Iowa’s U-S Senators split on the federal budget vote today. Senator Charles Grassley voted for the nearly two trillion dollar budget plan for next year. The plan which cleared the Senate today and the House Wednesday includes the outline for a one-point-35 trillion dollar tax cut over the next 11 years. Senator Tom Harkin voted against the bill.Harkin says it’s fiscally irresponsible and puts tax cuts for the wealthy over education, Social Security and Medicare.The next federal fiscal year begins October 1st. On another topic,Senator Harkin says energy company executives should be called before Congress to answer questions about the price spikes in fuel and electricity. Harkin’s asking for Congressional hearings.Harkin says a recent F-T-C report showed oil companies didn’t break any laws but did “manipulate” gasoline prices in the Midwest last summer.Harkin joined with Senators from North Dakota and Illinois to call for creation of a special House/Senate panel that would have subpoena powers in its investigation of the energy industry.