EXPLAINER: How Biden’s proposed gas tax holiday would work
By MATTHEW DALY
Associated Press
WASHINGTON (AP) — Facing stubbornly high gas prices that average about $5 a gallon nationwide, President Joe Biden has urged Congress to suspend federal gasoline and diesel taxes for three months. If savings from the 18.4 cents-a-gallon federal tax on gas are fully passed along to consumers, drivers would save about $2.76 for a 15-gallon fill-up. It’s unclear, though, if Biden can push his proposal through Congress, where lawmakers, including some Democrats, are skeptical or even opposed to the idea. Many economists also are wary of a gas tax holiday.
