Democratic presidential hopeful Sen. Hillary Clinton (N.Y.) on April 28 unveiled a plan to address skyrocketing gas prices. Like a plan proposed earlier in April by the presumptive Republican nominee, Sen. John McCain (R-Ariz.), Clinton’s would suspend the gas tax over the summer. She would offset the cut by imposing a “windfall” profits tax on oil companies. McCain didn’t propose an offset.
Clinton’s rival for the Democratic nomination, Sen. Barack Obama (D-Ill.), has criticized both proposals, saying they would have a minimal benefit for consumers and also harm transportation projects, which draw financing from the Highway Trust Fund. The Associated General Contractors says McCain’s proposal would cost the trust fund $8.5 billion.