Biden May CANCEL This Tax In An Emergency Act
(UnitedReader.com) – Gas prices are astronomical right now, with some areas paying nearly $10 per gallon. President Biden claims to be doing everything he can to bring the prices down, but all they’ve done is go up, reaching all-time highs almost daily. The current administration is weighing a possible tax holiday to help Americans at the pump.
A federal gas tax holiday is being discussed by President Joe Biden's White House amid rampant inflation and rising fuel costs in a midterm year. https://t.co/n6zBdGuThE
— Newsmax (@newsmax) June 13, 2022
Democrats are facing strong headwinds as midterms inch closer and closer, and the Biden administration still struggles to get inflation and fuel prices under control. The president’s party is looking at suffering major losses in both chambers of Congress if the president can’t get the economy back on track.
Part of his plan may be a federal tax holiday on fuel until the Russian-Ukrainian war ends. While the move would require Congressional action, President Biden could publicly support the idea, which may push Democrats in Congress to act. The Hill reported that Biden’s White House has already thrown the idea around and will meet again soon to iron out any details and possibly make a decision.
According to the University of Pennsylvania, the federal gas tax is 18.4 cents per gallon, where it has remained since 1993. Cutting just the federal tax might not help much in states like California, where the state gas tax is 51.1 cents per gallon, but it would make a huge difference for people in places like Pennsylvania, where the additional tax is nonexistent.
Will the tax break help Americans at the pump? Will it help you?
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