McCain wants to cut out the middle man, give big oil even bigger profits [View All]

[ck4829]

John McCain wants the federal government to free people from paying gasoline taxes this summer and ensure that college students can secure loans this fall, a pair of proposals aimed at stemming pain from the country's troubled economy.

To help people weather the downturn immediately, McCain was calling for Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. He also renewed his call for the United States to stop adding to the Strategic Petroleum Reserve and thus lessen to some extent the worldwide demand for oil.

Combined, he said, the two proposals would reduce gas prices, which would have a trickle-down effect and "help to spread relief across the American economy."

http://news.yahoo.com/s/ap/20080415/ap_on_el_pr/mccain_economy