Will the federal gas tax be suspended for a few months?
Will it be enough to help offset the record high prices? Will it slow inflation in the price of other products?
The questions this morning as President Biden prepares to announce that he wants Congress to suspend the federal gas tax reportedly for three months.
If members of Congress agree, it will mean the federal tax on gas of 18.4 cents a gallon would be gone for those three months.
The president’s energy advisor says it’s “a little bit of breathing room for the American people as we get into the summer driving season.” And he calls on states to suspend their gas tax as well.
Democrats and Republicans in Sacramento have been arguing about that for months now.
Some are calling suspending the gas tax a gimmick that won’t make much difference overall, with some even suggesting it could make inflation worse with oil and gas companies just raising prices anyway.
One thing is for sure, the pressure on the president to do something and to do it quickly is growing with no signs of record high gas prices falling substantially this summer.
A lot of Americans would probably say something is better than nothing. But time will tell if that something becomes something.
(Photo c.e. albert)