White House announces proposal for federal gas tax holiday to ease prices
Shannon Longworth: In his latest attempt to relieve pressure at the pump — President Biden is calling for a three-month gas-tax holiday.
He’s also calling on states to suspend their own gas taxes.
Currently – the federal tax on gas sits at 18-point-4 cents per gallon for regular and a 24-point-4 cents per gallon on diesel.
If the savings were fully passed along– people would save about 3 and a half percent at the pump.
Right now — it’s unclear if Biden’s proposal would even make it through Congress.
Biden was asked about the chances yesterday.
Reporter question: “Mr. President, if you were to decide to go for a federal gas tax holiday, do you believe Congress would support that? And how would you feel about the fact that these funds are used for something that is a big priority for you to repair roads and infrastructure and all of that?”
Joe Biden, U.S. President: “We have a giant infrastructure bill we passed, giant. $1.2, one trillion, 200 billion dollars.”
Reporter: “So it would be worth it for you to…”
Biden: “Sure, it’s not like, you know, it’s not like before. Look, if will have some impact. But it’s not going to have an impact on major road construction and major repairs.”