President Obama just can't help himself. Due to a broad array of economic factors, including, but not limited to, the expansion of an American domestic oil industry that his administration has rejected every step of the way, the price of oil is lower than it's been in years.
This has been a source of some relief for middle income Americans who are currently unemployed or undermployed on a massive scale. However, because it flies in the face of President Obama's green agenda, he's doing what Democrats do best: calling for a tax.
President Barack Obama is about to unveil an ambitious plan for a “21st century clean transportation system.” And he hopes to fund it with a tax on oil.Obama aides told POLITICO that when he releases his final budget request next week, the president will propose more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion.
To pay for it all, Obama will call for a $10 “fee” on every barrel of oil, a surcharge that would be paid by oil companies but would presumably be passed along to consumers.There is no real chance that the Republican-controlled Congress will embrace Obama’s grand vision of climate-friendly mobility in an election year—especially after passing a long-stalled bipartisan highway bill just last year—and his aides acknowledge it’s mostly an effort to jump-start a conversation about the future of transportation.
But by raising the specter of new taxes on fossil fuels, it could create a political quandary for Democrats. The fee could add as much as 25 cents a gallon to the cost of gasoline, and even with petroleum prices at historic lows, the proposal could be particularly awkward for Hillary Clinton, who has embraced most of Obama’s policies but has also vowed to oppose any tax hikes on families earning less than $250,000 a year.As Politico correctly points out, this tax is going to be passed down to the American consumer who's already been browbeaten by the Obama economy, at which point money will be handed over to the same administration that brought us Solyndra, Solar City, and other failed energy and infrastructure investment projects, at a point when our current pace of government spending is already unsustainable.
Obama's last year can't pass fast enough.
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