Biden's gas tax holiday unlikely to deliver much relief, experts say

Biden's gas tax holiday unlikely to deliver much relief, experts say


As President Joe Biden calls for a pause in the federal gasoline tax, he is facing skepticism that the measure would provide substantial improvement for people at the pump.

At 18.4 cents per gallon, halting the federal gas tax would take a small bite out of soaring prices, which have reached $5 per gallon in recent weeks. The White House had considered a tax holiday in February as gasoline prices rose to nearly $3.50 per gallon before shelving the idea.

BIDEN BUCKS RECESSION FEARS

Trending: Massive Recall Announced, Normal Home Item Has Been Spontaneously Bursting Into Flames

But with prices soaring further, Biden is now eyeing a temporary three-month pause in the tax, calling on Congress and states to suspend their levies. Senior administration officials previewed the Wednesday decision as the latest effort to “blunt the

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend