More Than 230 Economists Release Letter Opposing Clinton Gas Tax Plan

Hillary Rodham Clinton said Sunday she'll have no truck with economists telling her where to put her gas-tax holiday.

Well, now she's got a truckload of them.

More than 230 economists -- Democrats, Republicans, advisers to past presidents and four Nobel laureates -- signed a letter today opposing proposals by Clinton and presumptive Republican presidential nominee John McCain to suspend the 18-cent federal gas tax for the summer driving season.

"First, research shows that waiving the gas tax would generate major profits for oil companies rather than significantly lowering prices for consumers," they wrote. "Second, it would encourage people to keep buying costly imported oil and do nothing to encourage conservation. Third, a tax holiday would provide very little relief to families feeling squeezed."

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