President Biden calls for federal gas tax exemption

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President Joe Biden Wednesday called on Congress to create a three-month federal holiday for gasoline and diesel taxes.

Biden also asked each state to suspend its own gasoline and diesel taxes.

The move comes a week after the average price of a gallon of gasoline in the United States hit $5 for the first time ever.

Last week, Biden linked rising gas prices to many Americans’ more pessimistic view of where the country is headed.

“If you notice, until gas prices started to go up,” Biden said in an interview with The Associated Press, “things were a lot more, they were a lot more optimistic.”

There is a federal tax of 18.4 cents per gallon on gasoline and a federal tax of 24.4 cents per gallon on diesel fuel.

Biden’s fellow Democrat, House Speaker Nancy Pelosi of California, has repeatedly questioned the wisdom of cutting federal fuel taxes.

While this is “good public relations,” Pelosi noted in April, “there is no guarantee that the saving, the federal tax reduction, would be passed on to the consumer.”

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