With gas prices soaring to a nationwide record of $4 a gallon, Americans might assume that Congress would move swiftly to address an issue that's hitting consumers' wallets and threatening the U.S. economy.

But both parties, caught up in election-year politics, seem more intent on blaming each other for the price spike. ....

Deep divide over gas prices

The rapid run-up in gas prices has lawmakers scurrying to offer solutions, but Democrats and Republicans split sharply over how to lower prices.

Democratic plan

Tax on profits: Impose a 25 percent windfall profits tax on oil companies and use the money to invest in renewable energy.

Authority to sue: Give the U.S. government authority to sue OPEC for conspiring to raise oil prices.

More regulation: Enhance the ability of the Commodity Futures Trading Commission to regulate energy futures markets.

Undo tax breaks: Repeal $17 billion in tax breaks for the oil industry.

Republican plan

Arctic drilling: Open the Arctic National Wildlife Refuge in Alaska to oil drilling.

Coastal drilling: Allow states to approve drilling for oil and natural gas off their coasts.

Encourage refineries: Offer incentives to oil companies to build new refineries.

More tax breaks: Create new tax breaks to speed the development of coal-to-liquid fuels.