Clinton's 'Gas-Tax Holiday' Would Hurt Consumers
Susan Jones
Senior Editor
(CNSNews.com) - Sen. Hillary Clinton (D-N.Y.) wants to force oil companies to pay the federal tax on gasoline out of their own profits. But some analysts say it won't do much good. "The only way to make gas cheaper for consumers is to have more gas available," David Kreutzer, senior fellow of energy, economics and climate change at the Heritage Foundation, told Cybercast News Service. "When oil companies make money, they make a lot of money, but we all forget the years they don't make money," Peter Van Doren, editor of Regulation magazine and senior fellow at the libertarian Cato Institute, told Cybercast News Service. He noted that between 1985 and 2001, oil companies didn't make the kind of profits that Clinton wants to tax today.
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