Drivers paying more than ever before at the pump could possibly see gas prices dip a bit, as President Biden on Monday said he’s exploring a federal gas tax holiday.
“Yes, I’m considering it,” Biden told reporters about a potential gas tax holiday. “I hope to have a decision based on the data, I’m looking for by the end the week.”
The federal gas tax is 18 cents a gallon, so a gas tax holiday could save the average driver about $3 each fill up. The average price for regular is now $5 per gallon in Massachusetts, resulting in the average motorist paying more than $70 to fill up their tanks.
“It’s not going to be a huge relief for most people,” said Michael Klein, professor of international economics at the Fletcher School at Tufts University.
Klein also noted that gas tax revenue is earmarked for highways and bridges.
“We have huge infrastructure needs in the country, and that (a gas tax holiday) would be damaging to meeting those needs,” Klein said.
Biden’s comments about the gas tax on Monday come after Treasury Secretary Janet Yellen on Sunday said a gas tax holiday is “certainly worth considering.”
“President Biden wants to do anything he possibly can to help consumers,” Yellen said on ABC’s “This Week.” “Gas prices have risen a great deal, and it’s clearly burdening households, so he stands ready to work with Congress.”
It remains to be seen how a federal gas tax holiday would affect demand, noted Mark Schieldrop of AAA Northeast.
“Overall, I still think the forces of supply and demand, and what’s going on with the economy will have the biggest impact on the long-term trend of gas prices,” he added.
Massachusetts State House leaders have continued to reject Republican proposals to temporarily suspend the state gas tax.
On Monday, a spokesperson for House Speaker Ronald Mariano’s office referred the Herald to recent comments he made regarding the lower chamber’s consideration of some form of targeted tax relief — but could not say if the speaker would reconsider suspending the gas tax now that the federal government may do the same.
Mariano has been fairly consistent in his answer to questions about a gas tax holiday, claiming that maneuver has only saved drivers in Connecticut 7 cents a gallon.
“I’m not going to cut the gas tax so that more money goes to big oil companies,” Mariano said Friday. “That’s not going to help you at the pump. There’s no guarantee that any tax cut on gas is reflected in a downward price at the pump.”
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A much better plan would be to open the pipeline and drilling leases again. This new Marxist Democrat party shows that their decisions are all about destroying our country to rebuild to the Marxist/Communist policies.
THAT IS WHY they won’t do any of that.. THEY WANT to appear to ‘do something’, but actually do NOTHING>
Georgia has suspended their gas tax, Florida did not. Gas in Gorgia is about $.50 cheaper than in Florida.
Is this damnable puppet president going to suspend the gas tax for just one day holiday than claim a victory over fuel prices??…. Probably.
The treachery of the treasonous, socialist Democrat Party know no bounds.
What strings are attached to that do you suppose?
This is just another bandage on a Biden created Hemorrhoid where the pain is temporarily relived for political reasons, but the underlying long-term bleeding out of our energy dollars and jobs overseas will continue to see our wealth redistributed to our sworn enemies. I do believe even Biden’s Preparation H contains Petroleum jelly?
I can visit 7 gas stations within 5 miles of my home and beat the price of gas by a mere 18 cents. Today I saw prices that ranged from $4.44/gallon to $4.99 a gallon for a gallon of regular. Why are we paying this President 6 figures for 4 years to accomplish something in the short term we ourselves can do in 5 minutes? Trump filled the national Strategic reserve for $35/barrel, which Joe is emptying in times of impending war in order to take the heat off his failed energy policies that will later have to be replaced at the current $120/barrel which now goes to Putin, Venezuela and the Iranians. That twin giant sucking sound is your gas pump money being vacuumed out of the country to our sworn enemies with the Joe sucking back 10% back to his Biden Democrat party and crime family. Just more MAMA,,,MAMA,,,MAMA i.e. “Make America mediocre Again” using other people’s money to make establishment people rich. As bad as Joes brain is he still can spell “Antidisestablishmentarianism” which means first keep the established in power above all.
Oh heck just print more money
Keep my $3 and apply it to the $30 trillion debt.
This BRAIN DEAD DIP *hit doesn’t know what he is Talking about. I live in Utah where the Federal TAX on a Gallon of Gasoline is 24.9 cents and the State Gasoline TAX is 24.9 cents a Gallon also . And DOPEY is telling everyone that the Federal TAX on Gallon of Gas is Only 18.9 cents. Where the HELL has he been for the last 30 Years. Gas TAX hasn’t been that LOW since the early 1970 era. WAKE-UP U Fraud. F*JB. Let’s Go Brandon !