To help people weather the downturn immediately, McCain urged Congress to institute a "gas-tax holiday" by suspending the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. He also renewed his call for the United States to stop adding to the Strategic Petroleum Reserve and thus lessen to some extent the worldwide demand for oil.If this long-shot proposal gets accepted, I think the greatest benefit is that people would finally, tangibly see how much the federal government costs them every time they fill up their tank. Also, I would predict that, come Labor Day, there would be a lot of people angry that the taxes are being re-installed. Hopefully that anger would lead them to choose the most tax-friendly candidate in November, rather than someone who would surely vote against any tax relief. A press release on McCain's full economic plan can be found here.
Combined, he said, the two proposals would reduce gas prices, which would have a trickle-down effect, and "help to spread relief across the American economy."
It's ideas like this that will help him win in November...
Sen. McCain is proposing a "gas tax holiday" for this summer, meaning no federal gas taxes from Memorial Day to Labor Day: