White House Reportedly Debating Federal Gas Tax Holiday For Americans

The White House is reportedly mulling over a federal gas tax holiday as gas prices hit a $5 national average in June with no indication of going back to pre-Biden Administration rates.

President Joe Biden’s economic team is expected to meet this week on whether to push the U.S. Congress to act on suspending the federal gas tax, according to anonymous sources reported in The Hill.

One Democrat close to the White House discussion told The Hill that suspending the federal gas tax is “definitely an option on the table” to give Americans dealing with the compounding effects of inflation and prices at the pump some relief.

The Democratic Party is moving to lower prices in hopes it helps their chances of withstanding the “shellacking” their party is predicted to take in the November midterms, The Hill reported.

Former economic advisor to former President Barack Obama, Robert Wolf, said Monday that increased gas prices are due to the Russian war in Ukraine. Wolf also said he supports a federal gas tax holiday to fight rising costs as long as it is tied to the “Putin Price Hike.”