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- President Biden is considering measures like a federal gas tax holiday to relieve pain at the pump.
- Average US gas prices have been above $5 per gallon, squeezing millions of Americans' wallets.
- Biden said he hopes to decide on a gas tax holiday by the end of the week.
President Biden is weighing the possibility of a federal gas tax holiday as millions of Americans continue to face pain at the pump.
"I hope to have a decision based on the data I'm looking for by the end of the week," Biden told reporters Monday in Rehoboth Beach, Delaware, according to CNN.
Pausing the federal gas tax—which is 18.4 cents per gallon—would require action from Congress. A pair of Democratic senators unveiled legislation in February to shelve the tax until 2023 but lawmakers haven't otherwise made much headway on the idea.
Gas prices have remained elevated for months due to factors like a US ban on Russian oil imports following Putin's invasion of Ukraine and a mismatch between supply and demand. Monday's nationwide average for gas was just under $5 per gallon, according to AAA.
In an interview on ABC's "This Week" on Sunday, Treasury Secretary Janet Yellen said a federal gas tax holiday is "certainly worth considering." What's more, Energy Secretary Jennifer Granholm said in an interview on CNN's "State of the Union" Sunday that the idea is under consideration.
"Part of the challenge with the gas tax, of course, is that it funds the roads," Granholm said.
Meanwhile, states like Georgia and Maryland temporarily suspended state gas taxes in March, when the price per gallon was also increasing.
Biden also said he's considering sending Americans gas rebate cards.
source https://businessinsider.com/biden-weighing-federal-gas-tax-holiday-gas-rebate-cards-2022-6