Biden May Suspend Federal Gas Tax, Conveniently Until the 2022 Midterms Are Over
President Joe Biden is seriously considering a proposal from Democratic senators to shelve the federal gas tax until 2023.
The Gas Prices Relief Act would suspend the 18.4 cents per gallon gas tax.
The bill is sponsored by two Democrats, Sens. Mark Kelly of Arizona and Maggie Hassan of New Hampshire.
The measure would expire on Jan. 1, 2023, months after the upcoming midterm elections in which Democrats are facing long odds.
Lower gas prices will go a long way to help working Arizonans right now. That’s why I’m working to suspend the federal gas tax and save Arizonans about 18 cents on every gallon.
That adds up quickly. Now, we’ve got to get it done.https://t.co/UlNGVRsKXm
— Captain Mark Kelly (@CaptMarkKelly) February 15, 2022
A Biden spokeswoman confirmed in a statement that the White House is open to the bill, according to The Washington Post.
“Every tool is on the table to reduce prices,” assistant press secretary Emilie Simons said in a statement, according to the Post.
“The President already announced an historic release of 50 million barrels from the strategic petroleum reserve, and all options are on the table looking ahead.”
Amid inflation and national supply chain difficulties, skyrocketing gas prices have burned a hole in Americans’ pockets since Biden’s inauguration.
AAA averaged national gas prices at $3.52 as of Thursday morning, nearly a full dollar more than last year’s average of $2.53.
Americans enjoyed historically affordable gas prices during the tenure of former President Donald Trump, a luxury that evaporated within the first months of the Biden administration.
Biden terminated the Keystone XL gas pipeline at the start of his presidency, destroying thousands of American jobs and undermining American energy independence in the process.
The president has struggled to articulate a plan of action to help Americans afflicted by high gas prices.
The Committee for a Responsible Federal Budget, a nonpartisan group, estimated that the proposal to pause the gas tax would reduce federal revenue by $20 billion and worsen already severe inflation.
“While the gas tax holiday may reduce prices at the pump, it will further increase demand for gasoline and other goods and services at a time when the economy has little capacity to absorb it,” CRFB predicted.
“The result could be even higher rates of inflation in 2023.”
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