NewsLocal News

Actions

Biden expected to ask Congress to suspend federal gas tax

Gas Prices
Posted at 5:57 AM, Jun 22, 2022
and last updated 2022-06-22 06:09:34-04

CAPE CORAL, Fla.  — President Biden is looking to tackle soaring gasoline prices.

This afternoon, he’s expected to ask Congress to temporarily suspend the federal tax on gasoline.

This comes at a time where Southwest Florida and states across the nation have seen record-high gasoline prices.

According to reports, Biden is looking to suspend the gas tax for about three months.

Right now the federal gas tax is 18 cents a gallon.

People who have a car with an average gas tank size of about 13 to 16 gallons , will save about $2.40 at the pump.

People who fill up three times a month would save about $7.20 a month.

The president is also expected to call on states to suspend their gas tax.

That’s something Governor Ron DeSantis has already done in Florida.

He suspended the state gas tax for the month of October, which means Floridians most likely won’t see both tax breaks at the same time, but they can expect to save 25 cents per gallon during the month of October.

Despite Biden's efforts to suspend the federal gas tax, Congress would need to pass it, and there’s not a lot of support.

Some supporters for suspending the gas tax say this would provide American families a little relief with the high prices of gasoline and inflation.

Meanwhile opponents say, suspending the gas tax wouldn't do much, but instead it would affect infrastructure investments.

That's about $7 billion dollars of tax money that would not go into the infrastructure fund.