Word: gals
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Dates: during 1990-1999
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...reduce the deficit about $490 billion over the next five years. While some details remained to be worked out Monday, the big breakthrough came Thursday night when Moynihan and House Ways and Means Committee chairman Dan Rostenkowski agreed to accept the Senate proposal for a 4.3 cents-per-gal. hike in the cost of gasoline. Senators from rural states, led by Montana's Max Baucus, had declared the 4.3 cents hike a ceiling and refused to support anything higher. Though Moynihan floated 6.5 cents and 6 cents alternatives, both failed. White House aides were disappointed, but recognized that the smaller...
...with themselves. The party's conferees resolved most differences between the version passed earlier by the two chambers, but ended up fecklessly falling a bit short of the $500 billion deficit-reduction goal set by President Clinton. The key deal: limiting the gas-tax increase to 4.3 cents per gal. -- $33 per year for an average driver -- rather than the larger, broader energy tax that Clinton and the House Democrats had wanted. Republicans are expected to oppose the plan solidly, but Democratic leaders feel they can hold ranks and win narrow passage in the full House and Senate this week...
...There's only one problem with the Davies baby," ran the tag line for a particularly repulsive horror movie some years ago: "It's alive!" Well, there's only one problem with the 4.3 cents-per-gal. gas tax the Senate has proposed: it's too little. The House and Senate conferees, wrestling to reconcile their respective budget packages, should make one tiny little amendment. Where it says 4.3 cents, they should add two words: a year. And maybe a third word: forever. For decades, we'd still be paying vastly less for gas than our competitors (in Europe...
With the average price of unleaded, self-service gas running around $1.15 per gal. this summer, a bit less than last year (that's right, less), a 4.3 cents hike in the gas tax would add about 3% to the price. All you'd have to do to keep your cost of driving level would be to improve your gasoline efficiency 3% a year to keep pace. Buy a car that gets 23 miles to the gallon, say, instead of 20, and you've beaten the gas tax for five years. Uncle Sam raises his lousy $70 billion over those...
Actually, Ross Perot, Paul Tsongas and Lee Iacocca -- men of considerable popularity -- have proposed even stiffer medicine. Presumably, the millions of Americans who consider themselves Perot-lees favor his 50 cents per gal. phased in over five years. But 4.3 cents a year forever wouldn't be half bad either...