![]() You could find ways to give them direct tax credits. That is kind of a market-based mechanism. There's nothing you can do, really, in the short term to give people price relief. This comes up every time fuel prices spike. ROBERTS: Keep in mind that, you know, there have been proposals to give a gas-tax holiday for years. YDSTIE: Well, are there other ways to relieve the pressure of high fuel prices on people who are hurt most? Who can least afford to pay these prices? In terms of the actual sort of fiscal effect, this is tiny. ROBERTS: Well, on paper it certainly would, but, you know, the fact is as soon as something gets cheaper, consumers tend to use more of it. Would dropping the federal gas tax - 18.4 cents a gallon on gasoline, 24.4 on diesel - bring prices down, or are there other factors that are going to complicate that? YDSTIE: So gasoline is hovering around $3.50 a gallon for regular. ![]() PAUL ROBERTS (Author, "The End of Oil"): Good to be here. ![]() Paul Roberts is author of "The End of Oil." He joins us from member station KUOW in Seattle. But first: As part of his broader economic plan, Senator John McCain has proposed suspending the federal gasoline tax from Memorial Day through Labor Day to help ease the impact of soaring fuel prices. I'm John Ydstie.Ĭoming up, Washington state's ferry system is getting creaky. ![]()
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