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Biden says he's considering a gasoline tax holiday

Biden says he's considering a gasoline tax holiday


Biden says he's considering a gasoline tax holiday

REHOBOTH BEACH, Del. — President Joe Biden said Monday that he's considering a federal holiday on the gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon.

“Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”

With his poll numbers at historic lows, the Biden administration is increasingly looking for ways to spare the public from higher prices at the pump, which have been climbing steadily since most of Biden's time in office. Gas prices nationwide are averaging just under $5 a gallon, according to AAA.

The Biden administration has already released oil from the U.S. strategic reserve and increased ethanol blending for the summer, things that have done little...if anything....to give relief to consumers.

The Penn Wharton Budget Model released estimates Wednesday showing that consumers saved at the pump because of gas tax holidays in Connecticut, Georgia and Maryland. The majority of the savings went to consumers, instead of service stations and others in the energy sector.

Taxes on gasoline and diesel fuel help to pay for highways.