Now, A Gas Tax Seems Like A Drop In The Bucket

If Bill Clinton had to pick a year to pass a gasoline tax, this is shaping up as a fine one. Lawmakers are likely to settle on a 6 -a-gallon tax hike starting this fall, on top of a rise in producer costs caused by tougher environmental regulations. But brimful inventories and lackluster worldwide demand are pushing prices downward--and should muffle any tax-induced gasoline-price spike.

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