Pelosi Axes Gas Tax Holiday

Not only did House Speaker Nancy Pelosi come out against a gas tax holiday, she made sure to explain in precise detail why the proposal itself would be so damaging:

"There is no reason to believe any moratorium on the gas tax will be passed on to consumers. That's first and foremost," she said. "Second, it will defeat everything we've tried to do to lower the cost of oil," noting that Democrats have been trying to shift the nation to alternative fuel sources, not promote gasoline consumption.

Sen. Clinton plans to propose her gas tax holiday soon. On a conference call today, campaign advisers said that she'll have several cosponsors. But Pelosi's opposition means that the proposal will go nowhere in the House of Representatives.

In Columbia City, Indiana today, Obama was asked about Clinton's proposal:

"Even if this tax..... although is it a short term thing, as you say, why can't it be made [so that the] oil companies should pay it into that fund that takes care of roads and bridges and stuff, and we could get still get some relief on this gas, even if it is short term, and a lot of us are nothing but short termers anyway."