AP Photo/Patrick Semansky Joe Biden has officially announced his plan to ask Congress for a three-month gas tax holiday. Proponents see it as an opportunity to ease the burden high gas prices are putting on American families, particularly middle- and lower-class families.
The problem, as opponents are pointing out, is the negative impact such a holiday would actually have.
As my colleague Nick Arama pointed out earlier today , one of the biggest impacts a gas tax holiday will have is to increase demand while decreasing supply. And when demand goes up and supply goes down, prices also go up. The […]
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