The White House is suggesting that the US federal gas tax exemption is on the table after states begin introducing their own
Now the White House is signaling a gas tax vacation is on the table after states start introducing their own breaks and the national average price per gallon hits an all-time high of $5.02
- A new report indicates that the administration is beginning to consider a federal gas tax exemption more seriously, as some states have already imposed them
- Prices per gallon are approaching $7.00 in some parts of the country
- The national average on Tuesday morning was $5.02 – a new all-time high
- Maryland, Georgia and New York have introduced gas tax exemptions
- The government blames the increase on Russia’s ongoing invasion of Ukraine
- A federal gas tax vacation would require congressional action
Joe Biden is starting to think more seriously about a federal gas tax exemption as prices at the pump continue to rise with no signs of slowing down and the government continues to blame the gulf for the conflict in Eastern Europe.
While the move would require Congressional action, public push from Biden in favor of the tax exemption could help spark movement — and sources said Hill the president is getting closer and closer.
“It’s certainly an option that’s on the table,” said a Democrat close to the White House.
Some states, including Maryland, Georgia and New York, have already taken steps to suspend their gas taxes. Some suggest that Biden calling on the other states to do the same would also be an effective move by the White House to ease the strain on Americans’ wallets.
Biden’s economic team has discussed a gas tax exemption and is expected to meet later this week for more talks on the matter.
A new report indicates that the government is starting to think more seriously about a federal gas tax exemption, as some states introduce their own, while prices are approaching $7.00 in some parts of the country.
The average price per gallon in the US surpassed $5.00 this week – a new high
When asked on Monday whether the government is considering a federal gas vacation, Karine Jean-Pierre, Biden’s press secretary, said there is nothing new to announce regarding the price of fuel.
As of Tuesday morning, the average price per gallon of gas in the US is $5.02, according to AAA. In some parts of the country, there are reports of the price approaching or surpassing $7.00 per gallon.
Biden has already tapped into the Strategic Petroleum Reserves, which had a negligible effect on gas prices.
While the White House has repeatedly said it is open to ideas on how to ease rising tax prices, Biden’s Commerce Secretary Gina Raimondo admitted last week that there is nothing the government can do to help.
“Unfortunately, that’s the brutal reality,” Raimondo told CNN when asked what Biden can do.
“This is largely caused by Putin’s aggression,” Raimondo added. “You know, since Putin moved his troops to the border with Ukraine, gas prices have risen by more than $1.40 a gallon, and the president is asking Congress and others for possible ideas.”
“But as you say, the reality is there’s not much you can do about it,” she said.
In April 2020, the average price per gallon was at a low of $1.77, growing exponentially after President Joe Biden took office to now $5.02. The White House continues to blame the wave for Russia’s invasion of Ukraine in late February
The government’s failure has been to blame prices for Russia’s invasion of Ukraine, label the crisis ‘Putin’s price hike’ and claim that prices will continue to rise and remain high as long as the attack in eastern Ukraine continues. Europe continues.
Blame has also been placed on oil companies, which the government says commit murders by keeping prices high.
Speaking at the Port of Los Angeles on Friday, Biden said, “Exxon made more money this year than God.”
He accused oil companies of purposefully not increasing production to meet demand so they can charge more per gallon.
Biden is preparing to visit Saudi Arabia on a trip to the Middle East in the coming weeks, which many believe will push the country to ramp up production of oil to increase global supply.