Biden To Call For 3-Month Suspension Of Gas And Diesel Taxes

President Biden proposes a three-month suspension of the federal gas tax to alleviate high gas prices, potentially saving drivers $0.18 per gallon. The proposal faces opposition in Congress, including from some Democrats. The suspension could cost the Federal Highway Transportation Fund $10 billion, but Biden argues it won't significantly impact major road projects due to existing infrastructure funding. The White House claims the measures could save Americans up to a dollar per gallon, but experts warn the savings may not reach consumers and could worsen inflation by encouraging more spending at the pump.

What is President Biden's proposal regarding the federal gas tax?

How much could drivers potentially save per gallon if the gas tax is suspended?

What concerns do some Congress members have regarding the gas tax suspension?

What alternative measures does the White House suggest if states do not suspend their gas taxes?

What potential impact on inflation is associated with the proposed gas tax suspension?