Both Sen. John McCain and Sen. Hillary Rodham Clinton have called for a "gas tax holiday" this summer to offer commuters and vacationers some relief from spiraling gasoline prices. They have urged Congress to suspend the 18.4-cent-a-gallon federal tax and 24.4-cent diesel tax between Memorial Day and Labor Day, a step that could cost the government about $10 billion that would be used for transportation projects. The only major candidate to oppose the idea is Sen. Barack Obama, who voted for a similar measure in Illinois eight years ago. Obama now says that consumers would derive little benefit from such a moratorium. So, who is right?When gasoline prices hit a shocking $2 a gallon in Illinois in the summer of 2000, politicians demanded action. As a Democratic state senator, Obama joined other lawmakers in pushing through a six-month suspension of (more...)