JUNE 22, 2022:
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.
JUNE 20, 2022:
REHOBOTH BEACH, Del. (AP) — President Joe Biden says he’s considering a federal holiday on the gasoline tax. That could possibly save Americans as much as 18.4 cents a gallon. Biden indicated to reporters Monday (June 20, 2022) that his decision could come by the end of the week. The administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA. Taxes on gasoline and diesel fuel help to pay for highways.
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