Flashback: Obama Dismissed Gas Tax Holiday as a ‘Gimmick’
President Joe Biden’s latest consideration was previously dismissed by former President Barack Obama as a “gimmick.” On Monday, Biden told reporters he is considering a federal gas tax freeze. During a speech in North…
President Joe Biden’s latest consideration was previously dismissed by former President Barack Obama as a “gimmick.”
On Monday, Biden told reporters he is considering a federal gas tax freeze.
During a speech in North Carolina in April 2008, Obama dismissed the idea of a gas tax holiday.
“John McCain started –he made the proposal. Then Hillary Clinton said, ‘Me too,'” Obama said.
He added, “It would last for three months and it would save you, on average, half a tank of gas. That’s what Senator Clinton and Senator McCain are proposing to deal with the gas crisis. $25 to $30. Half a tank of gas.”
Obama suggested this is “the problem with Washington. We are facing a situation where oil prices could hit $200 a barrel. Oil companies like Shell and BP just reported record profits for the quarter.”
He continued, “And we’re arguing over a gimmick to save you half a tank of gas over the course of the entire summer so that everyone in Washington can pat themselves on the back and say that they did something.”
The former president argued this “isn’t an idea designed to get you through the summer, it’s an idea designed to get them through an election.”
A now-retired journalist for ABC News, Dan Harris, reported at the time economists and experts agreed with Obama.
“They say Obama is essentially right on this one. You wouldn’t even get a $3 saving most likely because… it’s the law of supply and demand,” Harris said.