Biden weighs a gas tax holiday. How much would consumers really save?

[Yo_Mama_Been_Loggin]

WASHINGTON — Facing pressure to do something legislatively to curb skyrocketing gas prices, President Joe Biden said Monday he will make a decision on pursuing a federal gas tax holiday by the end of the week.

The move would suspend a federal tax of 18.4 cents per gallon of gas and 24.4 cents for diesel as fuel prices have soared above $5 a gallon in many states.

While it might provide some short-term relief, the policy has plenty of critics. Many economists argue a pause in the federal gas tax could drive up inflation once the holiday ends, deplete transportation funds and only reduce a fraction of the overall historic spike in gas prices.

-snip-

Although Biden hasn't discussed specifics of a policy, Senate Democrats in February proposed suspending the tax until the end of the year.

https://www.msn.com/en-us/news/politics/biden-weighs-a-gas-tax-holiday-how-much-would-consumers-really-save/ar-AAYFVWk

[drray23]

1. it would not help much.

it would be washed out by the next price hike from the oil companies.

[walkingman]

5. They will definitely do that.....they are pushing hard for GOP control.

[walkingman]

2. Bad move....reeks of desperation.

[durablend]

4. Well he could do nothing then we get our asses kicked in November

[walkingman]

9. IMO, the lines are already drawn - the key is voter turnout and I doubt anyone

will give a hoot about it 30 days from now.

[Dysfunctional]

3. That's the problem a good president has.

They have to look at all sides of the problem before making a decision.

[roamer65]

6. No.

Pass a windfall oil profits tax and kick the money back in monthly checks to drivers.

[Thunderbeast]

7. Say Goodbye to a reasonable user fee

This will NOT be easily reversed. With CO2 north of 425 PPM, a further subsidy of petroleum is unconscionable!

Sorry folks...As painful as prices are, we should have prepared for this 40 years ago. Do not shield fossil fuel consumers from true costs!

[Farmer-Rick]

8. Keep the 20 cents

It's a drop in the bucket. A couple dollars would help but 20 cents is useless.

I got an idea, stop compounding interest for student loans. Or if Dems really want to see the economy boom, forgive all student loans. All that money going into banks would now go into the real economy. It would give us a post depression boom like no other.

And if the Dems don't do it, the GOPers are going to campaign on it.

[walkingman]

10. There is now way in hell that the GOP will forgive student loans. It is too

offensive to white America.

[Farmer-Rick]

12. I didn't say they will do it

Though if it gave them 42 million votes they might, if they were desperate enough. As desperate as Trump is now to get back into power......maybe.

But what they would/will 100% do is campaign on the Dems NOT doing it.

Just think 42 million votes. That's a lot of votes to leave on the table for GOPers to pick up.

[Autumn]

11. Bad idea. It would do more harm than good. nt

[Just A Box Of Rain]

13. I feel the same way

[Farmer-Rick]

14. Ok

OK, sorry, I thought you were responding to me..... nevermind

[Samrob]

15. Wore idea to date. nt