Democrats to propose eliminating gas tax for 60 days

[rawstory]

Democrats are set to introduce a measure that would create a "federal gas tax holiday" by eliminating the federal tax on gas and diesel for sixty days, RAW STORY has learned.

The measure, proposed by Sen. Bob Menendez (D-NJ), would reduce the cost of gas by $0.184 per gallon and the cost of diesel by $0.244 per gallon. The move, aides say, will provide $100 million dollars per day in relief.

Democrats say the money will be made up by cutting six billion dollars in tax breaks to oil firms. Currently, the money from the federal gas tax goes to the Highway Trust fund.

Democrats are also working on an amendment that would give federal authorities more power to investigate price gouging, aides say. The measure could be introduced by Sen. Maria Cantwell (D-WA), who is examining the idea.

http://www.rawstory.com/news/2006/Democrats_to_propose_cutting_gas_tax_0425.html