Analyzed: John McCain's Gas Tax Plan

There is no question as to the seriousness of the rapidly rising gasoline prices, increased cost of foodstuffs, and the declining housing market are great concerns for many of not most Americans. We are constantly bombarded with news related to these topics and promises from presidential hopefuls of what they will do to "fix" our economy.

This week John McCain presented his plan for supporting and boosting the economic status of all Americans by instituting a "Gas-Tax Holiday" from Memorial Day through Labor Day. This three month gas tax relief plan, according to John McCain's Comments on April 15, 2008, will be an "immediate economic stimulus."

Opponents of John McCain's Tax plan, Americans for Transportation Mobility (ATM) stated they believe the "Gas-Tax Holiday" would "devastate our national transportation system" and not provide the economic stimulus promised to consumers. ATM stated in a newswire on April 15^th, that the "holiday" would save the consumer an average of $28.

When you consider Senator McCain's plan, on the surface it seems like it is a good idea and makes sense to do this. In my opinion, it is definitely a great political move as each time n individual in America puts gas into their vehicles at a "reduced" rate, they will more than likely remember it was John McCain who pushed for the decrease.

This three-month "holiday" will definitely have an impact on the resources for our transportation system, but should the plan work, when the prices drop dramatically it may also be a time for John McCain, or another savvy politician to say we should now increase the previous tax rates (18.5 cents on regular, 24.5 cents on diesel) by two or three cents each, which would quickly add up and restore the deficit created by the proposed "holiday".