Daily Archives: July 3, 2009

DeFazio’s Bright Idea

As the Antiplanner previously noted, House Transportation Committee Chair James Oberstar (D-MN) and Highways and Transit Subcommittee Chair Peter DeFazio (D-OR) want to spend $500 billion on transportation over the next six years — which is about $150 billion more than is available. Fortunately, if you think their plan is a good one, DeFazio has a solution: tax futures trades in oil.

This should easily raise $150 billion, DeFazio says, and “it should be wildly popular. I mean, everybody hates speculators.” That’s the ticket: just tax people everyone hates.

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