Will Biden Approve Gas Tax Holiday?
Will we have one?
On Monday, President Biden told media sources that he is finally coming to a decision about issuing a gas tax holiday to Americans and will let the people know by the end of the week.
According to USA Today, Biden told reporters he is deciding on if the government will issue a pause on the federal gas tax which will greatly reduce the cost of gas to everyone in the United States.
Biden said to reporters, “Well, I hope I have a decision based on the data I’m looking for … by the end of the week.”
USA Today explained: The gas tax adds 18.4 cents total per gallon of gasoline, 18.3 cents in excise tax plus 0.1 cent in a storage fee. For diesel, it is 24.3 cents plus the 0.1 cent fee.
Currently the national average for a gallon of gas sits at $4.981.
Biden also noted that he is coming close to making a final decision on student loan debt as well after he was asked by reporters.
