Gas prices nationwide average just under $5 a gallon, AAA says. Now the president is considering a gas tax holiday to give Americans a break at the pump.
The White House is considering temporarily suspending the federal gas tax. President Joe Biden could make a decision this week.is considering a gas tax holiday to give Americans a break at the pump.
The federal gas tax is 18.4 cents a gallon. It isn't clear if a gas tax holiday — a temporary suspension of the tax — would be for the full amount or a portion. A downside of the tax break is that it would increase the deficit without offsetting the cost elsewhere in the federal budget. are averaging just under $5 a gallon nationwide, according to AAA. The retail price of gasoline had been rising since 2021 but then really spiked after Russia invaded Ukraine in February.
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