Even with gas prices averaging close to $5 a gallon nationwide, President Joe Biden’s new plan to suspend the federal gas tax for three months is not getting a warm reception from many lawmakers in Washington.
Experts say rolling back the 18 cents a gallon federal gas tax might not even be noticeable at the gas pump because of the fluctuations in oil prices.
Gas prices that were closer to $2 a gallon when President Trump left office now average $4.94 a gallon, and over $6 a gallon in California.
Biden, who has spent weeks criticizing the oil companies for raking in record profits, will not attend.
Biden told the oil companies, “Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. Do it now. Do it today”
But Congress would need to approve the gas tax holiday and even some key Democrats are not on board.
Senator Joe Manchin (D-WV) said, “Well. I’m not a yes right now, that’s for sure.”
And Republicans also doubt the plan will pass on Capitol Hill.
Senator John Thune (R-SD) said, “The administration, of course, is coming up with is yet another gimmick, another Band-Aid, and something they know is dead on arrival up here in Congress. The president knows it. Democrats know it up here.”
Senator John Barrasso (R-WY) added, “If Joe Biden is serious about getting energy costs under control, he needs to do the right thing, which allows oil and gas exploration on federal lands.”
Biden has blamed the high gasoline prices on the war in Ukraine, but they began climbing quickly after he took office.
And Federal Reserve Chairman Jerome Powell told the Senate Banking Committee Wednesday that inflation was already high before the war.
Inflation and high gasoline prices threaten Democratic control of the House and the Senate in November. Critics say the real answer to answer of high prices at the pump is making it easier to allow more drilling, something the White House hasn’t been willing to do.
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