230 economists agree gas tax holiday is a dumb idea

As Clinton and McCain are still hot on the gas tax holiday, 230 economists -- Democrats, Republicans, advisers to past presidents and four Nobel laureates -- signed a letter today opposing proposals to suspend the 18-cent federal gas tax for the summer driving season. washingtonpost.com

First, research shows that waiving the gas tax would generate major profits for oil companies rather than significantly lowering prices for consumers," they wrote. "Second, it would encourage people to keep buying costly imported oil and do nothing to encourage conservation. Third, a tax holiday would provide very little relief to families feeling squeezed.

Greenmesh: Gas tax "holiday" is a bad idea part II (5/2)
Greenmesh: Reducing gas tax is a bad idea (4/27)