Gas Tax Holiday A Possibility, Biden Says

REHOBOTH BEACH, DELAWARE — President Joe Biden is considering a gas tax holiday amid high fuel prices and other inflation, according to reports.

“I hope I 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.

The gas tax, which is just over 18 cents per gallon, funds road-related expenses, according to CNN, which reported a bill that would suspend the tax is pending in Congress but has not gained much traction.

The national average gas price Tuesday was just under $4.97 a gallon, down from about $5.02 per gallon a week ago, according to AAA. Oil prices are at a 14-year high after Russia invaded Ukraine in February and energy use increased in the midst of the coronavirus pandemic economic recovery, the New York Times reported.

As prices rise and a potential recession looms over the November midterms, Biden said he is considering whether to support distributing gas rebate cards to citizens, according to CNN. The president’s team will meet with oil company executives this week, the Times reported.