Obama to propose new oil tax to fund $300 billion in transportation spendingA new White House plan to combat climate change and update transportation systems would impose a fee of $10 per barrel of oil to fund $300 billion in spending over the next decade. President Barack Obama is expected to make his case to Congress next week.
We already pay enough taxes on oil at the pump. This will add about 25 cents a gallon at the pump on top of that. I think a tax like this will hurt the economy ever further. I hope congress doesn't go along with it and of course he doesn't get out his pen and do it anyway.