Dream of gas tax holiday falters over job losses

federalnewsradio.com     Jul 20, 2008            

Dream of gas tax holiday falters over job losses July 20, 2008 - 12:14am By JIM ABRAMS Associated Press Writer WASHINGTON (AP) - The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere. Despite calls from the presidential campaign trail for a Memorial Day-to-Labor Day tax freeze, lawmakers quickly concluded _ with a prod from the construction industry _ that having $9 billion less to spend on highways could create a pre-election specter of thousands of lost jobs. Now, lawmakers quietly are talking about raising fuel taxes by a dime from the current 18.4 cents a gallon on gasoline and 24.3 cents on diesel fuel. With gas prices setting records daily, Republican presidential hopeful John McCain... [read full story]                    

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