Gas Tax Holiday's Dream Disappears in Job Losses

Summary

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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.

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Extract

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Gas Tax Holiday's Dream Disappears in Job Losses

Now, lawmakers quietly are talking about raising fuel taxes by a dime from the current 18.4 cents per gallon on gasoline and 24.3 cents on diesel fuel.

With gas prices setting records daily, Republican presidential hopeful John McCain and former Democratic candidate Hilla...

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