Obama's Proposed Oil Tax 'Dead on Arrival'
Republican leaders in the House of Representatives on Wednesday dismissed U.S. President Barack Obama's proposed $10.25 per barrel tax on oil, saying the increase would translate into higher gasoline prices for consumers.
"The president's tax proposal is dead on arrival at the House. It will not happen," House Minority Whip Steve Scalise, a Louisiana Republican, told reporters. House Speaker Paul Ryan also rejected the idea.
The tax, to be phased in over five years, was part of Obama's proposed budget for fiscal year 2017 released on Tuesday.
(Reporting by Susan Cornwell and Susan Heavey)
