Biden’s New Three Month “Gift” For Americans Might Happen
(DailyVantage.com) – Gas prices have been out of control lately, with the national average sitting at $4.955 as of June 22. In California, the average price for gas is currently over $6 per gallon, with the state still planning to increase its fuel tax next month. Citizens across the country are struggling to fill up their vehicles and still pay for groceries and other necessary commodities, all of which have increased in price as well. Now, President Joe Biden has finally decided to try to alleviate the pressure.
On Wednesday, June 22, the White House announced Biden was calling for a gas tax holiday to take effect immediately and last three months, through the end of September. This plan would cut the federal fuel tax and equates to savings of 18 cents per gallon on regular gasoline prices and 24 cents per gallon on diesel.
The tax revenues accrue to the Highway Trust Fund, which maintains highways, mass transit, and bridges. President Biden will call on Congress to prevent shortfalls to ensure the tax break doesn’t affect this fund, asking for other revenue sources to cover the potential losses. Biden is also asking states and local governments to act in concert with the federal gas tax holiday to further lower prices. New York and Connecticut have already suspended state taxes, while Colorado and Illinois have delayed planned increases.
Would you support a three month gas tax holiday?
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