Remember when McCain wanted to have a gas tax holiday? And everyone said it was a bad idea because it would deplete funds necessary to rebuild roads and bridges?
The fund is financed by federal excise taxes on motor fuel, 18.4 cents a gallon on gasoline and 24.4 cents a gallon on diesel. But the fund’s highway account is being rapidly depleted because for months Americans have been reacting to the high price of gasoline by driving less, Ms. Peters said. In May, for instance, vehicle-miles were down 3.7 percent from a year earlier.
So in plain English, people driving less = less people paying taxes on gas = giving people a gas tax holiday.
Will McCain admit he was wrong?