Federal Gas Tax Holiday - Boon or Boondoggle?

Senator Clinton jumped on the bandwagon with Senator McCain by proposing a Federal gas tax holiday for the summer. Both feel this 18.3 cent a gallon decrease will give this huge benefit to the American driving public. But what would it do to the theory of "there is strength in numbers" where that puny 18.3 cents adds up to a 10 b-b-billion dollar hit to the transportation fund. Our road and bridge infrastructure is already failing and now the candidates propose this humongous decrease in the funds to make the repairs.

I understand that Hillary's proposal does not take the money from the transportation fund, but rather she is suggesting that we put some sort of windfall profits tax on the oil companies. Like that is going to happen quick enough to make a difference this summer. This is simply convenient political rhetoric (from both of them, frankly) and in my opinion, a bit of pandering to the masses.

I certainly would like a 18 cent per gallon break in gas prices. After all, I have two cars and own a motor home. But really....what will I save? Let's assume one tank a week (20 gallons) per car, and assume that most families have two cars. This tax break would generate about $3.68 per tankful, or $7.36 per week for the family. That might almost buy lunch... for one. In four months it might generate about $118 for the two car family, a princely sum, but that wouldn't even pay my cable bill for a month. On the other hand, the collective tax of 10 billion dollars might actually make a difference. And if the gas prices keep going up as they have, they will effectively wipe out much of the "savings", and psychologically at least, it will seem that the "quick fix" break went away.

And then on September 2, we all get hit with a 18.3 cent per gallon increase. Seems like a good deal, right?