Critics say short-term move would worsen inflation

Gas tax holiday: Critics say short-term move would worsen inflation

  • President Joe Biden says he plans to make a decision on a federal gas tax holiday this week.
  • Research suggests the savings with a gas tax holiday would be minimal for drivers.
  • Critics call suspending the gas tax a ‘gimmick’ that isn’t a long-term answer to soaring prices.

WASHINGTON – Facing pressure to do something legislatively to curb skyrocketing gas prices, President Joe Biden said Monday he will make a decision on pursuing a federal gas tax holiday by the end of the week.

The move would suspend a federal tax of 18.4 cents per gallon of gas and 24.4 cents for diesel as fuel prices have soared above $ 5 a gallon in many states.

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