Senator Clinton and Senator McCain continue to push for a gas tax holiday, despite a chorus of experts who have criticized the plan and commended Barack for opposing it (see here, here, here, here, and here for just a few).
The website Jabberwonk created an online "Gas Tax Holiday Calculator" that lets you estimate your own potential savings, while at the same time pointing out the potential costs:
John McCain and Hillary Clinton have suggested suspending Federal Taxes on all Gasoline/Diesel sold between Memorial Day (5/26) and Labor Day (9/1) this year.According to state highway officials and this article in the New York Times, this "Gas Tax Holiday" will lower tax revenue by roughly $9 billion and potentially cost 300,000 highway construction jobs. The highway trust fund that the gas tax finances provides money to states and local governments to pay for road and bridge construction, repair and maintenance.
According to the Jabberwonk calculator, someone who drives 100 miles a week would save an estimated $13.80 in tax relief over the 15 week "holiday." You can calculate your own savings here, and then can read Barack's plan to address energy policy and tax relief in America.
And here is Barack discussing the reality behind the gimmick of the gas tax holiday:
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