With gas prices across the country at record highs and with primaries in North Carolina and Indiana less than a week away, Democratic presidential candidate Hillary Clinton is getting behind an idea originally put forward by Republican John McCain, a gas tax holiday. Clintons plan would suspend the 18-point-4 cent federal gas tax and 24-point-4 cent diesel tax from Memorial Day to Labor Day. SOUNDBITE: Hillary Clinton, presidential candidate, saying (English): "I would immediately introduce legislation to lower gas prices by imposing a windfall profits tax on the oil companies and use that money (applause) I would use the money to temporarily suspend the federal gas tax." The tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges. Barack Obama, the frontrunner for the Democratic nomination, does not support the gas tax holiday.. saying the average driver wont see a big benefit. He also criticized the plan as pure politics and said the only way to lower the price of gas is to use less oil. Obama has many economists in his corner saying lower prices would just boost demand for gas, with the benefits flowing to oil companies rather than consumers. Obamas position has prompted Clinton to accuse Obama of being out of touch with ordinary Americans-- who are now paying $4 a gallon in some parts of the country. Jon Decker, Reuters.
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Added: May 1, 2008 |
| Category: News |
Author: reuters |
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