Will U.S. drivers get a gas tax holiday?
WASHINGTON (AP) - President Joe Biden is preparing to call on Congress to suspend the federal gasoline and diesel taxes for three months. It’s meant to ease financial pressures at the pump and reveals the political toxicity of high gas prices in an election year.
Administration officials say Biden wants to suspend the 18.4 cents-a-gallon tax on gas and 24.4 cents-a-gallon on diesel fuel. If the gas savings were fully passed along to consumers, people would save roughly 3.6% at the pump. Prices are averaging about $5 a gallon nationwide.
Lawmakers in both parties have been skeptical of the idea. The Democratic president also wants states to suspend their own gas taxes or provide similar relief.
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