President Joe Biden plans to call on Congress to suspend federal gasoline and diesel taxes for three months to ease financial pressures from high gas prices – in an election year.
The president will also ask states to suspend their own gas taxes or provide similar relief, according to administration officials who previewed his proposals.
The proposal involves the 18.4 cents-a-gallon federal tax on gas and the 24.4 centsa-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.