President Joe Biden called on Congress to suspend the federal gas tax for three months to save consumers 18 cents a gallon. Biden said the administration will meet with oil refinery executives Thursday to urge them to bring more refineries back online to lower prices at the pump.
Biden also called on states to order similar gas-tax holidays, saying in a live-streamed announcement: "I fully understand that a gas tax holiday alone will not fix the problem, but it will bring families some relief. Last week I sent a letter to the CEOs of the largest oil-refining companies, asking them to work with my administration to bring refineries back on line to get more gas to the pump at lower prices."
Biden also had a direct message to oil companies: "To the companies running gas stations and setting those prices at the pump, this is a time of war, global peril, Ukraine. These are not normal times. Bring down the price at the pump to reflect what you're paying." The President reiterated that prices are up about $2 a gallon since Russia invaded Ukraine in February and said he warned at the time that opposing Vladimir Putin by supporting Ukraine would not come without a cost.
Biden called for the gas tax holiday to take effect soon and run through the end of September. In addition to the 18 cents per gallon the move would shave off regular gasoline prices, it would also suspend the 24-cents-per-gallon federal tax on diesel fuel. The federal taxes on gasoline and diesel fuel go toward maintenance and repairs for infrastructure nationwide.
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