Gas is Cheap. So Obama Wants to Add a $10/Barrel Tax to Oil.
With oil prices at their lowest point in a decade, President Obama sees a chance to add taxes that he just can’t pass up.
In his proposed budget to Congress, Obama is asking for a tax $10 on each barrel of oil produced. The money would be used for “combating climate change” – an empty phrase if ever there was one.
Speaker Paul Ryan is not a fan of the President’s plan, calling it dead on arrival.
“Once again, the President expects hard-working consumers to pay for his out-of-touch climate agenda,” the Speaker said. “The good news is this plan is little more than an election-year distraction. As this lame duck President knows, it’s dead on arrival in Congress.”
Despite proposing what is clearly a consumer tax, the White House prefers to call it “an investment”.