The Biden administration is considering instituting a federal gas tax holiday as the average price of a gallon of regular has soared above $5 — and the White House economic team could take up the matter later this week, according to a report, the NY Post says.
The administration is scrambling to come up with solutions to ease Americans’ pain at the pump with inflation hitting 40-year highs and Democrats fearing economic turmoil that would doom their chances in this fall’s midterm elections.
“It’s definitely an option on the table,” a Democrat close to the White House told The Hill on Monday.
A suspension of the federal gas tax — currently 18.3 cents per gallon of regular fuel and 24.3 cents per gallon of diesel fuel — would require congressional action.
{Matzav.com}
