In the short term, the summertime gas tax holiday advocated by Republican John McCain and Democrat Hillary Clinton could save consumers a little money. But it could also have huge consequences for the safety of our roads, as the money from the gas tax helps pay for the infrastructure of our roadways. And it’ll provide no incentive for big oil companies to lower their prices on gas or to produce more for the summer driving season or encourage drivers to cut down on their gas consumption. But the idea seems to poll well in Indiana, and conservatives who support McCain/Clinton are falling for it and isn’t that the only thing candidates care about these days?
Clinton is trying to seem like a populist by calling for a windfall tax on the wild profits made by the big oil companies. But she’s forgetting to mention that she’s already called for the same windfall tax to be allocated to green technologies. So where’s the savings?
Although it may seem like an eat-your-vegetables kind of position, candidate Barack Obama is rejecting what he calls the “gimmick” of a gas tax holiday because it would put the nation’s infrastructure in jeopardy. He’s calling for a windfall tax on oil companies, with the proceeds going to lower-income families as a tax break. It may not be a good sound bite, but it’s a better option in the long term.
