John McCain has proposed a summer-long break from federal gasoline taxes, at a time when most Americans are on vacation:
To help people weather the downturn immediately, McCain urged Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal
gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. By some estimates, the government would lose about $10 billion in revenue. He also
renewed his call for the United States to stop adding to the Strategic Petroleum Reserve and thus lessen to some extent the worldwide demand for
Combined, he said, the two proposals would reduce gas prices, which would have a trickle-down effect, and "help to spread relief across the American
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But wouldn't lowering the gas prices encourage more gasoline useage and people stock piling during that time frame. And in the long run raise the
price? It would help me too, but would hurt us all in the long run I think.
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