Energy & Environment — Biden mulls backing gas tax holiday

There will be no federal gas tax holiday under President Biden‘s watch, he says. A national monument will be co-managed by five tribes for the first time in the history of the United States, and Virginia legislators rejected a proposal by Gov. Glenn Youngkin (R) to suspend the state’s gas tax.

This week will see the announcement of Biden’s gas tax holiday.

At the beginning of the week, Vice President Biden told reporters that because of the high cost of gasoline, his administration was considering whether or not to support a federal gas tax holiday.

In Rehoboth Beach, Del., Biden said, “I hope to have a decision… by the end of the week.”

In his remarks, Vice President Biden did not rule out sending gas rebate cards to Americans, despite administration officials’ recent aversion to the idea.

In order to suspend the federal gas tax, Congress would need to act, but Biden’s public support of the policy could help get the ball rolling.

Penn Wharton Budget Model estimates that suspending the federal gas tax between March and December this year will reduce average per-capita gasoline spending by $16 to $47 during that time period, which was released earlier this year.

A few states, including Maryland, Connecticut, and New York, have already abolished their own gas taxes.

According to AAA statistics, the national average price of gasoline hit $5 per gallon last week.