Tuesday, May 02, 2006

This makes a lot of cents

This afternoon a handful of Texas Progressive Alliance bloggers got on a conference call with Rep. Trey Martinez Fischer, who has proposed a summer-long gasoline tax holiday for Texas drivers.

Last week DallasBlog published his op-ed where he laid out the program:

HB 120 would impose a 90-day moratorium on the fuel taxes collected on every gallon of gasoline and diesel in Texas. At .20 cents a gallon, HB 120 takes $4.00 off your gas bill on a 20-gallon tank. That’s like getting 1 1/3 gallons of free gas. If you own more than one vehicle, your savings doubles.

The money -- around $700 million -- does not come from the state's budget surplus, nor does it short-change other highway projects. It comes from a projected increase in Federal Highway Adminstration funds, already approved but not earmarked, of $788.1 million (according to his website, GasTaxCut.com) .

This isn't a lot of money, and it's short-term relief for a long-term problem, but other than that I can't find fault with this idea. Go sign the petition if you agree.

No comments: