Gas Prices: What is the federal gas tax holiday?

Gas prices are at an record highs and Americans are struggling to pay.

gas pump

To provide some relief, Biden is considering a federal gas tax holiday.

Colorado residents to see up to $1,000 in stimulus tax rebates

What is the federal gas tax holiday?

On June 20, 2022 Biden told reporters that he hopes to make decision of pausing the federal gas tax soon. Pausing the federal gas tax would save Americans about 15 cents per gallon.

However, White House officials have commented that getting Congress to approve the measure will be difficult.

There have been rumors of prepaid gas cards, but Biden has dismissed the possibility partially due to a chip shortage.

Americans are frustrated at the lack of action to help those who are struggling to pay for necessities. The national average for a gallon of gas is $4.98 as of June 20.

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