Gas costs are marketed at a Chevron station as rising inflation and oil prices have an effect on the shoppers in Los Angeles, California, June 13, 2022.
Lucy Nicholson | Reuters
President Joe Biden mentioned Monday that he’s severely contemplating a brief halt within the federal gasoline tax because the White House seems to take steps to decrease the fee on the pump forward of the July 4 vacation.
White House officers say the July 4 weekend, when tens of thousands and thousands of Americans are anticipated to hit the street, is a goal for saying new measures to assist decrease record-high gasoline costs.
Biden mentioned Monday that he might decide on pausing the federal gasoline tax by the tip of this week. “I hope I have a decision based on data,” he advised reporters touring with him in Rehoboth, Del.
A gasoline tax vacation would require congressional motion and one White House official acknowledged it will be difficult. “Republicans don’t want gas prices to come down,” the official mentioned. “They want Biden to suffer.”
The official pointed to a remark made by Sen. Rick Scott, R-Fla., to the Wall Street Journal final November saying rising gasoline costs and inflation are “a gold mine for us.”
Other attainable steps the administration is contemplating embody a gasoline rebate, although one White House official dismissed the concept as “a stretch” and mentioned it’s “not in serious contention.” While a gasoline tax vacation seems to be getting extra critical consideration, officers mentioned among the many unresolved questions is how lengthy it will final.
The effort to announce new measures comes forward of a gathering Energy Secretary Jennifer Granholm plans to satisfy with oil refining executives, which a supply aware of the plans mentioned is scheduled for Thursday, June 23. The assembly comes amid rising tensions between the White House and the U.S. oil business.
Granholm famous on CNN on Sunday that if the administration moved ahead on a federal gasoline tax pause, some federal funds might cease going towards roadway tasks as a part of the infrastructure regulation Biden signed final 12 months.
“If we remove the gas tax, that takes away the funding that was just passed by Congress to be able to do that,” she mentioned. “So you know, that’s one of the challenges, but I’m not saying that that’s off the table.”