Dream of Gas Tax Holiday Falters Over Job Losses

No gas tax holiday - Congress considers raising pump tax to help repair crumbling highways By JIM ABRAMS Associated Press Writer WASHINGTON July 20, 2008 (AP) A gas price sign is shown in McKinney, Texas, Friday, July 18, 2008. Prices at the pump backed away... 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... [read full story]