Biden calls for 3-month suspension of gas and diesel taxes

With gasoline prices continuing to rise nationwide, President Joe Biden on Wednesday called on Congress to suspend federal gasoline and diesel taxes for three months.

According to a report by the Associated Press, the president also called on states to suspend their own gas taxes or provide similar relief, and he delivered a public critique of the energy industry for prioritizing profits over production.

To bring relief to consumers, the proposals will require action by lawmakers in Washington and in statehouses across the country.

At issue is the 18.4 cents-a-gallon federal tax on gas and the 24.4 cents-a-gallon federal tax on diesel fuel. If the gas savings were fully passed along to consumers, people would save roughly 3.6% at the pump when prices are averaging about $5 a gallon nationwide.

“It doesn’t reduce all the pain, but it will be a big help,” Biden says. “I’m doing my part. I want Congress, states, and industry to do their part as well.”