×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: Barack Obama | Gas Tax Holiday | Joe Biden

Obama Dismissed Gas Tax Holiday as 'Gimmick' in 2008

former president barack obama speaks at a summit
Former President Barack Obama (Ritzau Scanpix/AFP via Getty Images)

By    |   Tuesday, 21 June 2022 11:19 AM EDT

President Joe Biden said this week that he’s considering a federal gas tax holiday in response to high gas prices, a move that former President Barack Obama dismissed as a "gimmick" in 2008.

Biden told reporters while in Delaware that he is "considering" a gas tax holiday.

"I hope to have a decision based on the data — I'm looking for by the end of the week," he said.

However, Biden's former boss said while campaigning for president in 2008 that a gas tax holiday was simply a "gimmick" that allows legislators to "say that they did something."

"We don't know that the oil companies will actually pass on the savings," Obama said in April 2008. "So you're saving 5% in terms of the gas tax. It's not clear what would prevent the oil companies from just jacking up prices 5%. So you end up giving them more money. And we've drained the Highway Trust Fund. Now, this is the problem with Washington. We're facing a situation where oil prices could hit $200 a barrel."

He added, "Oil companies like Shell and BP just reported record profits for the quarter and we're arguing over a gimmick that would 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 they did something. Well, let me tell you, this isn't an idea designed to get you through the summer, it's designed to get them through an election."

© 2022 Newsmax. All rights reserved.


Newsfront
President Joe Biden said this week that he’s considering a federal gas tax holiday in response to high gas prices, a move that former President Barack Obama dismissed as a "gimmick" in 2008.
Barack Obama, Gas Tax Holiday, Joe Biden
251
2022-19-21
Tuesday, 21 June 2022 11:19 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved