With President Obama set to leave office in less than one year, it should come as no surprise that he is looking for new ways to stick it to the American people before he exits the White House.
According to Fox News, Obama is calling for a $10-per-barrel oil tax to fund clean transportation. While Obama claims that oil companies will pay the new tax, everyone else know that the tax will just be passed onto the consumers in the form of higher prices at the pump:
President Obama will propose a $10 fee for every barrel of oil to be paid by oil companies in order to fund clean energy transport system, the White House announced Thursday — although Republicans were quick to declare the plan “dead on arrival” in Congress.
The fee would be phased in over five years and would provide $20 billion per year for traffic reduction, investment in transit systems and other modes of transport such as high-speed rail, the White House said. It would also offer $10 billion to encourage investment in clean transport at the regional level.
The White House claims the added cost of gasoline would incentivize the private sector to reduce the reliance on oil and to increase investment in clean energy technology.
The last thing Americans need is yet another Obama tax so hopefully Republicans in Congress will stand strong and reject this ridiculous proposal.
What do you think of Obama’s latest tax scheme? Share your thoughts below!