President Barack Obama’s $10 oil tax is a moot point. Many say that its applicability is not in the least bit likely in the long run.
The last budget that President Obama has proposed will have a $10 tax on oil as part and parcel of its basic tenets. Most of the incoming revenue from the tax will go on to affect sectors as far apart as: mass transit, high-speed trains, urban schemes, highway plans and driver-less vehicles.
The President’s 21st Century Clean Transportation System was presented in its entirety before the press by the White House, reported Reuters.
The plan that was President Obama’s brainchild drew praise from environmentalists and earned him the wrath of many oil companies and oil tycoons. But the fact of the matter is that this scheme will not stand up to the bitter thing called reality.
There is no chance that the plan can become a law. The collection of revenue and the spending of funds are the prerogatives of Congress alone.
And it all takes place in synch with the Constitution of the United States of America. So while the President can say all he wants, it is Congress that is pulling the strings.
The laws enshrined in the constitution dictate that the POTUS has to present a unified budget each year before the Congress. Pleas are sent for funding beforehand by various other agencies.
The last budget that was created ran on and on for 150 pages and also had 364 pages of further tables and figures attached to it. So while the President can propose, it is Congress which makes his wishes come true and that too only if it likes to and in accordance with its own predilections.
And Congress is a governmental body that is very insulated and does not let even the President carry much influence with its internal workings.
Normally, the White House has a great deal of difficulty convincing the bigwigs that are sitting in Congress. Even when the President’s party controls both houses, it is an unlikely occurrence.
And if the opposition takes control, there is simply no chance of any influence by the White House. Such are the powers of Congress that even the budget proposed by the President is little more than a fantastic fable that carries little weight.
The government would surely like to do a lot of the things it wants to but the stumbling stone is Congress. The saying that there are only two certainties, death and taxes, counts here.
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As for President Obama’s $10 tax on oil, it has the least value in the eyes of Congress, so its becoming a law is a moot point indeed.