Democrats will propose eliminating federal gas taxes for sixty days; 18 cents a gallon

Democrats will propose eliminating federal gas taxes for sixty days; 18 cents a gallon
John ByrnePublished: Tuesday April 25, 2006

Mulling proposal to give feds more power to target price gougers
Democrats are set to introduce a measure that would create a "federal gas tax holiday" by eliminating the federal tax on gas and diesel for sixty days, RAW STORY has learned.

The measure, proposed by Sen. Bob Menendez (D-NJ), would reduce the cost of gas by $0.184 per gallon and the cost of diesel by $0.244 per gallon. The move, aides say, will provide $100 million dollars per day in relief.
Democrats say the money will be made up by cutting six billion dollars in tax breaks to oil firms. Currently, the money from the federal gas tax goes to the Highway Trust fund.
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