Biden Supports Gas Tax Holiday, Encourages Congress To Act

Biden Will Likely Come to Decision This Week on Gas Tax Holiday

Biden Pressures Congressional Democrats To Implement New Tax Suspension — Asks For “Breathing Room”

(UnitedReader.com) – Gas prices remain astronomically high, and the White House is looking for ways to relieve some of the pain Americans are feeling at the pump. President Joe Biden has already released millions of barrels of oil from the nation’s Strategic Petroleum Reserve to alleviate some of the pressure, but to no avail. Now, the White House is looking to potentially suspend the federal gas tax to reduce fuel prices, and Biden is demanding Congress to act.

BREAKING: President Joe Biden says he's considering a federal holiday on the gasoline tax, possibly saving Americans as much as 18.4 cents a gallon. Biden says he hopes to make a decision by the end of the week. https://t.co/ILxybgHMeI

— The Associated Press (@AP) June 20, 2022

In a speech addressed on Wednesday, the president asked Congress to temporarily lift federal taxes on gasoline and diesel for three months. Suspending the gas taxes would decrease fuel prices by 18.4 cents per gallon, and at least 24 cents per gallon of diesel.

Several Democrats and Republicans have already expressed unwillingness to cooperate with his demands, with the White House already anticipating and planning to meet with representatives from both parties to convince them of the measure.

Fuel prices have unfortunately been on the rise since last year, but they really accelerated after Russia invaded Ukraine, and Americans have dealt with record-high prices since. Biden’s demonization and consistent persecution of oil companies by blaming their higher profit margins has only served to further widen the gap of seeing any proposal aimed at helping to ease prices at the pump.

Biden may see the gas tax holiday as a way to save Americans money at the pump after Maryland, Connecticut, and Georgia enjoyed success cutting their own fuel taxes. While the move would certainly ease some of the pressure on consumers, it would deteriorate funding for infrastructure projects that maintain roads, highways, and bridges. Still, given that the break would be a federal movement, Americans across the country could enjoy lower prices, at least for a while.