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   Clinton to Introduce Gas-Tax Holiday Bill

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5/2/2008 3:50 pm

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Entered 5/3/2008, Updated 5/3/2008

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Matt Phillips reports from Hendersonville, N.C., on the presidential race. Sen. Hillary Clinton plans to introduce legislation today in the U.S. Senate following up on her campaign commitment to put the federal gas tax on hiatus during the peak summer driving season, said campaign spokesman Doug Hattaway. The bill, which is to be co-sponsored by Sen. Robert Menendez (D., N.J.), would essentially implement the break in the gas tax on consumers while imposing a tax on oil companies to make up for lost revenue. Hattaway said it is unclear when the bill would come up for a vote, but added that the goal is to have the policy in place in time for the summer driving season, which is traditionally viewed as opening on Memorial Day. There’s virtually no chance Congress will approve a gas tax holiday before then–or at all. House Speaker Nancy Pelosi said Thursday that she, like Sen. Barack Obama, does not support the moratorium. “First of all, there is no reason to believe that any moratorium on the gas tax will be passed on to the consumer, first and foremost,” she told reporters, “Second of all, it would defeat everything that we have been trying to do to lower the cost of oil.” Pelosi said to lower gas prices Congress should be investing more in renewable energy resources.


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