Wall Street Analyst: Gas Tax Holiday Shows Biden's Quiver Is Empty

Wall Street Analyst: Gas Tax Holiday Shows Biden's Quiver Is Empty


The Biden administration proposal to put federal gas taxes on hold is an ineffective talking point that shows the White House is out of ideas on inflation and gas prices, a client note from the investment bank ISI Evercore said Monday.

“This rollout of a politically oriented proposal that will not get enacted reinforces our belief that the White House sees little genuinely impactful that they are willing and able to do unilaterally on energy prices or inflation more broadly,” the independent investment banking advisory stated. “We continue to get questions from investors about how Democrats will respond to inflation before the midterms, and this announcement suggests that few new ideas are forthcoming.”

ISI Evercore also noted many Democrats have opposed a federal

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