Jun 2022

President Biden to ask Congress for a Gas Tax Suspension

President Biden is calling to suspend the federal and state tax through September which will require new legislation from Congress. While suspending the gas tax isn’t going to solve the whole problem but it will take a step to relieve some of the pain at the pump.

The price of gas has risen drastically in the recent months according to data from the American Automobile Association showing prices are around $5 a gallon up from around $3 just months ago. The White House is estimating that the three month suspension of the federal gas tax would be about 18.4 cents per gallon, and would cost roughly $10 billion in total.