Now, the White House is signaling that the IS gas tax holiday is on the table after states began implementing their own pauses and the national median price per gallon hits a record high of $5.02
- A new report indicates the government is starting to think more seriously about state gas tax exemptions as some states have already introduced their own
- Prices per gallon are approaching $7.00 in some areas of the country
- The national average was $5.02 as of Tuesday morning – a new record
- Maryland, Georgia and New York have introduced gas tax exemptions
- The government blames the ongoing Russian invasion of Ukraine for the surge
- A federal gas tax holiday would require action by Congress
Joe Biden is starting to think more seriously about a federal gas tax holiday as prices at the pump continue to rise with no sign of slowing and the government still blames the conflict in Eastern Europe for the rise.
While the move would require congressional action, a public push by Biden in favor of the tax holiday could help spark movement — and sources told The Hill the president is getting closer.
“It’s definitely an option on the table,” said a Democrat close to the White House.
Some states, including Maryland, Georgia and New York, have already applied for gas tax suspensions. Some suggest that Biden, urging other states to do the same, would also be an effective move by the White House to ease the pressure on Americans’ wallets.
Biden’s economic team has been discussing a gas tax holiday and is expected to meet later this week for further talks on the matter.
A new report indicates that the government is starting to give more serious consideration to state gas tax exemptions as some states introduce their own, while prices in some areas of the country are as low as $7.00
The average price per gallon in the US surpassed $5.00 this week – a new high
When asked Monday if the government was considering a federal gas holiday, Biden’s press secretary Karine Jean-Pierre said there was nothing new to announce regarding fuel prices.
According to AAA, the average price of a gallon of gasoline in the United States as of Tuesday morning is $5.02. In some areas of the country there are reports that the price is approaching or exceeding $7.00 per gallon.
Biden has already tapped strategic oil reserves, which has had a negligible impact on gas prices.
While the White House has repeatedly said it is open to ideas about how to relieve rising tax prices, Biden’s Commerce Secretary Gina Raimondo admitted last week there is nothing the administration can do to help.
“Unfortunately, that’s the brutal reality,” Raimondo told CNN when asked what Biden can do.
“This is largely due to Putin’s aggression,” Raimondo added. “You know, since Putin moved troops to the Ukrainian border, gas prices have gone up to over $1.40 a gallon and the President is asking Congress and others for possible ideas.”
“But like you said, there really isn’t much more to do,” she said.
In April 2020, the average price per gallon was at a low of $1.77, which rose exponentially to now $5.02 after President Joe Biden took office. The White House continues to blame the Russian invasion of Ukraine in late February for the spike
The government’s failure has been to blame the Russian invasion of Ukraine for prices, labeling the crisis a “Putin price hike” and claiming that prices will continue to rise and stay high as long as the onslaught in Eastern Europe continues.
Blame has also been placed on the oil companies, which the government says are making a killing out of keeping prices high.
After a speech Friday at the Port of Los Angeles, Biden said, “Exxon made more money than God this year.”
He accused oil companies of deliberately not increasing production to meet demand so they could charge more per gallon.
Biden is gearing up to visit Saudi Arabia in the coming weeks during a trip to the Middle East that many believe will push the country to ramp up oil production to increase global supply.
