The create-jobs, save-the-environment, reduce-traffic-congestion, budget-neutral tax shift

Mankiw describes his preferred fiscal stimulus:

I would institute an immediate and permanent reduction in the payroll tax, financed by a gradual, permanent, and substantial increase in the gasoline tax. I would make the two tax changes equal in present value, so while the package results in a short-run budget deficit, there is no long-term budget impact. Call it the create-jobs, save-the-environment, reduce-traffic-congestion, budget-neutral tax shift.

He should get a job in the Obama administration.