Biden to Call for Three-Month Federal Gasoline Tax Suspension :

[Heir]

WASHINGTON—President Biden is planning to call for a three-month suspension of the federal gasoline and diesel taxes, according to senior administration officials.

Mr. Biden and his advisers have been discussing the issue for months in the midst of increasing political pressure to take action to address record-high gas prices. The announcement is expected on Wednesday, officials said, when Mr. Biden is scheduled to deliver remarks on gas prices at 2 p.m. Eastern Time.

A suspension of the 18.4-cents-a-gallon federal gasoline tax and 24.4-cents-a-gallon diesel tax through September would require congressional approval, so a move by Mr. Biden to throw his support behind the effort would be largely symbolic. Lawmakers of both parties have expressed resistance to suspending the tax, a move that would likely need bipartisan support to become law. Some Democrats worry that a suspension of the tax would have a limited effect on prices, with oil companies pocketing much of the savings.

https://www.msn.com/en-us/money/markets/biden-to-call-for-three-month-federal-gasoline-tax-suspension/ar-AAYIuIa?ocid=DE_20220622_ENUS__2&cvid=d6ada63f104a4f93913ee3cad19baf16


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[counterintelligence]

No they'd save consumers money, because they wouldn't have to pass it on to consumers.  But back when Obama was in office, Congress thought the price of gas was too low, so they were going to add more taxes, just to make the price of gas go up.  

This is probably a midterm election blunder, most likely to back fire.

Through September, conditioned on Senate approval?  Only a couple of months we're talking about here.

[Treebeard]

Certainly not the best or most effective idea.

Still, if I were in CON-gress, I'd vote yes, suspend it.

[counterintelligence]

Woop dee doo Biden...

Trump was able to bring us cheaper gas prices....


Only...

Every single day!

Why don't you try and match that?

[Saul Goode]

Short term ‘fix’ he can brag about.
Why doesn’t he work for a permanent solution?
That would require a brain that can solve problems.

[IDR]

Of all the things he could do like what Trump did, this is the most horrible. It increases the debt. Increases inflation. and gives us a 15 to 18 cent cut in fuel prices. What a friggin moron. FJB

[Grendelmort]

And once the "crisis" is over the .gov increases the gas tax from 18 % to 25% to make up for lost revenue.....

[Grendelmort]

Every Corporation from EXXON to General Mill to Cargill have said once this is over no matter how much raw ingredients prices fall, the prices will stay the same....

[Librarian]

Federal gas tax is 18.4 cents per gallon.

I fill up my 25 gal. tank twice a month, so 50 gallon x 18.4 cents = $9.20 per month savings. 

  Good job Joe...... he should get the Nobel Peace Prize... since that has been reduced to about $9 value as well.

[Treebeard]

Federal gas tax is 18.4 cents per gallon.

I fill up my 25 gal. tank twice a month, so 50 gallon x 18.4 cents = $9.20 per month savings. 

  Good job Joe...... he should get the Nobel Peace Prize... since that has been reduced to about $9 value as well.

Both parties are bought and paid for. Democrats won't vote for tax cuts, and Republicans won't restrain corporate gouging.

There is no winning. Make more money.