Clinton likes gas-tax holiday idea
Sen. Hillary Clinton has come out in favor of a gas-tax "holiday" supported by Sen. John McCain, but says she would slap a windfall-profits tax on oil companies rather than reduce federal transportation spending to make up the difference.
Sen. Barack Obama, meanwhile, is quoted in the New York Times as calling both ideas "short-term, quick fix" solutions to a much more complex problem. Eliminating the federal gasoline tax of 18.4 cents per gallon from Memorial Day to Labor Day would give the average American driver half a tank of gas, he said.
Clinton announced her plan Monday, saying it would help middle-class Americans who are struggling to keep up with their bills.
McCain floated his idea April 15, calling the three-month elimination of federal gasoline and diesel taxes "an immediate economic stimulus." The gas-tax holiday came under immediate fire from many quarters, including a major road construction group that said unless Congress used other tax revenues to replace the motor fuels taxes, it would cut some $9 billion out of the Federal Highway Trust, which funds road and other transportation project. New Mexico was estimated to lose more than $66 million under the proposal.
Clinton's plan skirts the construction funds issue by taxing oil companies. She said federal highway funds would not be touched.
The Times noted that both the Democratic presidential front-runners have switched positions on the gas-tax idea. Clinton once opposed such a plan, saying it would have hurt her constituents in New York, while Obama once supported a temporary suspension of the Illinois gas tax, the paper reported.
Comments:
Posted 04/29/2008 15:15 with
Here’s an idea:
What if the pueblos that sell motor fuels and charge, but do not pay, taxes start paying the taxes that they collect?
Posted 04/30/2008 10:56 with
Anyone who believes this gas tax holiday benefits consumers either does not understand basic economics or is lying to themselves. The for the consumer is ZERO. Does anyone actually beleive the oil companies would pass on the savings to the consumer? Do you really believe this would pass in the Congress? If so, do you believe Bush would sign it? If he does sign it, do you believe they have the votes to override the veto? With all that said why is it a good idea to to re-route the highway funding mechanism and add another layer of bureaucrcy?
Please. HRC thinks we’re stupid and is pandering. Pure and simple.
I was born in the day. It just wasn’t yesterday. Good grief now Clinton is getting her campaign talking points from McCombover?