Biden says he's considering a federal gas-tax holiday and sending Americans gas-rebate cards to alleviate pain at the pumpby Sarah Jackson · Business Insider
- President Biden is considering measures like a federal gas-tax holiday to relieve pain at the pump.
- Average US gas prices have been above $5 a gallon, squeezing millions of Americans' wallets.
- Biden said he hoped to decide on a gas-tax holiday by the end of the week.
President Joe Biden is weighing the possibility of a federal gas-tax holiday as millions of Americans continue to face pain at the pump.
"I hope to 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, according to CNN.
Pausing the federal gas tax — 18.4 cents a gallon — would require action from Congress. A pair of Democratic senators unveiled legislation in February to shelve the tax until 2023, but lawmakers haven't otherwise made much headway on the idea.
Gas prices have remained elevated for months because of factors like a US ban on Russian oil imports following Russian President Vladimir Putin's invasion of Ukraine and a mismatch between supply and demand. Monday's nationwide average for gas was just under $5 a gallon, according to AAA.
In an interview on ABC's "This Week" Sunday, Treasury Secretary Janet Yellen said a federal gas-tax holiday was "certainly worth considering." What's more, Energy Secretary Jennifer Granholm said in an interview on CNN's "State of the Union" Sunday that the idea was under consideration.
"Part of the challenge with the gas tax, of course, is that it funds the roads," Granholm said.
Meanwhile, states like Georgia and Maryland temporarily suspended state gas taxes in March, when the price per gallon was also increasing.
Biden also said he's considering sending Americans gas-rebate cards.