Is Biden's Gas Tax Holiday a Good Idea?

President Biden’s push for a gas tax suspension amid soaring fuel prices is receiving a cool reception among Democrats on Capitol Hill.

Party leadership did not commit to taking up a gas tax moratorium, which requires an act of Congress, and the caucus remains largely divided on the issue. 

But, even if Democrats were unified, pausing the tax would face an uphill battle in the Senate because of Republican opposition. 

America’s hard-pressed drivers may be about to receive a holiday. On Wednesday Joe Biden called on Congress to suspend the federal tax on gas and diesel until September as the country struggles with soaraway costs at the pump. But experts warned the tax holiday is unlikely to have a major impact on prices and will probably further harm the US’s already battered roads and bridges. If the tax cut even gets passed.

Let’s call the roll on President Biden’s ideas to reduce high gasoline prices. He’s tried lobbying the Saudis, to no avail. Releasing oil from the U.S. strategic reserve; the market yawned. Attacking oil and gas companies for not drilling or refining enough, but he also wants to put those companies out of business.