McCain Wants to Temporarily Halt Federal Gas Tax

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Pittsburgh (AP) John McCain is laying out some ideas for getting the economy headed back in a positive direction.

At the top of his list is lowering the price of gas. The likely republican presidential nominee is proposing a “gas-tax holiday,” suspending the federal gas tax from Memorial day to bor day. The tax adds 18.4 cents to a gallon of gas and 24.4 cents to diesel fuel.

McCain also called on the federal government to stop adding to the strategic petroleum reserve, in an effort to lessen the worldwide demand for oil. He said the proposals would lower the price of gas and that would have a trickle-down effect throughout the economy.

Speaking at Carnegie Mellon University in Pittsburgh this morning, McCain also made some longer-term proposals, including doubling the tax exemption for dependent children and offering people the option of choosing a simpler tax system.