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Biden Asks Congress for Gasoline “Tax Holidays” to Reduce Price: Biden Asks Congress for Gasoline “Tax Holidays” to Reduce Price | International

President Biden urged Congress to temporarily suspend the federal gas tax of nearly 20 cents a gallon for three months, to reduce the impact of rising fuel prices on the pockets of Americans.

In an effort by the White House to reassure Americans who have expressed concern about high prices on basic products affecting household savings, President Joe Biden announced the calls “gasoline tax holidays”.

This is a proposal for Congress to suspend until the end of September the national tax of $18.3 cents per gallon on gasoline and $24.3 cents on diesel.

And to further lower prices, Biden called on states to suspend their own gasoline taxes. The administration estimates that this could save consumers about a dollar per gallon.

“I fully understand that the gasoline tax exemption by itself will not solve the problemBiden said. “But it will provide families with immediate relief. Just a little bit of breathing room as we continue to work to lower prices for the long term,” Biden said.

President he also urged oil companies and refiners to lower prices for consumers. Although these proposals are not a guarantee, the request is likely to face stiff opposition on Capitol Hill.

Both Democrats and Republicans they doubt that the idea will really make an impact on the pockets of citizens who now pay almost $5 per gallon for fuel.

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The Senator Mitch McConnell, the Republican leader, dismissed the president’s call to suspend the tax. “The great new idea of ​​this administration it’s a silly proposal that high-ranking members of their own party have already rejected well in advance,” McConnell said.

This tax suspension is proposed during the start of summer and the holidays leading up to the July 4th holiday weekend where millions of families plan road trips.

Economists are also skeptical of the proposal, many not convinced that suspending the federal gas tax would lower prices. They worry that it will be an expensive gift to the oil industry that will ultimately exacerbate energy shortages.

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