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Economists Question McCain and Clinton’s Gas Tax Proposal

HeadlineApr 29, 2008

On the campaign trail, Senator Hillary Clinton has joined Senator John McCain in calling for the temporary elimination of the roughly eighteen-cent-a-gallon gas tax over the summer. Senator Obama has opposed the elimination of the tax. While Clinton and McCain have framed the tax cut as a way to help working class families, many economists question who would benefit from the tax cut. According to economist Dean Baker, the tax cut would result in higher profits for the oil industry but would not change the price of gas paid by consumers.

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