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In June 2022, President Joe Biden revived the idea of a federal gas tax holiday during a surge in inflation, including rising gasoline prices. [10] However, there was enough opposition in Congress that the proposal appeared unlikely to gain enough votes to pass.
President Joe Biden said Monday that he's considering a federal holiday on the gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon. ... June 20, 2022 at 1:16 PM. 1 / 6.
The federal gas tax is 18.4 cents per gallon. If Congress suspended the tax and the savings went entirely to consumers, it would reduce the cost of a 15-gallon fill-up from $75 to $72.24, a ...
President Joe Biden said Monday that he is seriously considering temporarily halting the federal gas tax as the White House looks to take steps to lower the cost at the pump ahead of the July 4 ...
According to Kiplinger, if the federal gas tax holiday were to be suspended through the rest of 2022, consumers who drive at least 12,000 miles a year in a car that averages 25 miles per gallon ...
Gas prices have skyrocketed in recent months — prompting Americans to question what the federal government is doing to ease the pain at the pump. What is Gas Tax Holiday? Biden's Proposal Explained
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
The White House is showing signs that it is more seriously considering a federal gas tax holiday, sources tell The Hill. President Biden’s economic team has discussed the gas tax holiday ...