As the national average for a gallon of gas hovers around $5, President Biden is considering a federal holiday on the gas tax that goes towards repairing roads and transportation grants.
LOS ANGELES -- As the national average for a gallon of gas hovers around $5 dollars, President Joe Biden is considering a federal holiday on the gas tax.
That federal tax goes towards repairing roads and transportation grants, which is separate from California's gas tax, but serves a similar purpose.But USC Professor Shon Hiatt said this move would not address the main reason for soaring energy costs -- supply. "Yes, it would lower the price by 18 cents," Hiatt said."Is that what we really need? Probably not. Because the government is still running a deficit so this is going to actually help create a little more inflation depending on how long they plan to run this because it's essentially more deficit spending."
The average price for a gallon of gas in California is around $6.40, according to AAA, because of the state's own gas tax."L.A. is already super expensive. We're driving right now to Costco to save on groceries," Tchekanov said."Even just going to Costco is a 20-minute drive. There's traffic, have to consider everything also, so I've often taken the big blue bus here. That's around and that's amazing. It's a dollar to take it.
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