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Friday, July 18, 2008 12:00 AM

McCain suggests longer gas tax holiday

A temporary suspension of the federal gas tax won't actually benefit consumers, but now John McCain says it might need to last even longer than the three months he'd originally supported.

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  • Friday, July 18, 2008 12:17 PM

    Would probably backfire on McCain.

    The federal gas tax is only 18.4 cents! Now a gas tax holiday ten years ago when gas was around a dollar a gallon would have meant something (about a 18% discount), but now at $4 a gallon it wouldn't make much of a dent (only about 4.5% discount). The last time I filled up it cost me $80, and believe me I'd still be cursing the pump if it "only" cost me $76.

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