President Biden wants to lower gas prices by declaring a ‘gas tax holiday’ for the next three months. He’s urging Congress to approve the plan and “take this step to help American families”. Under the proposal, a federal gas tax of 18 cents per gallon and 24 cents per gallon of diesel would be suspended until September. The average price for a gallon of gas in the U.S. is currently $4.95 per gallon. Will this ‘gas tax holiday’ do enough to bring down gas prices? Will Congress get on board with Biden’s plan?
Biden to call for 3-month suspension of gas and diesel taxes https://t.co/FBpAn9xNGb
— CNBC (@CNBC) June 22, 2022