President Joe Biden, whose approval rating has been on a downward spiral from the moment he was signed into office, is finally catching up with the times.
He announced he will call for Congress to suspend the federal gas tax for at least three months.
This move would likely be the first effective way of combating the skyrocketing pump prices, ultimately saving the average American citizen up to 50 cents per gallon, if state fuel tax follows suit.
Biden administration finally reacts to the energy crisis?
What this means is the $0.18/gallon of gasoline and $0.24/gallon of diesel would be lifted through the end of September this year, making Bidfen the hero right ahead of the midterm elections.
In fact, a dozen other Democrats have already pitched the idea as a means of reclaiming a portion of the advantage in November elections.
Although it’s painfully obvious the Biden administration did its part in losing Democrats the race.
If it's not already broken, Joe Biden will break it.
— Jim Bognet (@Bognet4congress) June 20, 2022
Their lackluster handling of the inflation crisis, as well as the southern border issue, crumbled what little trust Americans had for the political left. This might as well be their last-ditch effort to win back voters’ trust.
However, not all lawmakers are on board with the plan, including some Democrats like Nancy Pelosi.
Pelosi believes suspending the tax would have little to no effect on gas prices, whereas retailers would profit immensely.
Leeching money from the Highway Trust Fund
It remains unclear whether Biden even has the congressional votes needed to pass the suspension.
Despite Biden’s claims that it will provide substantial “breathing room” for the families impacted by inflation, not many lawmakers are expected to support him.
If we don't beat Joe Biden, he will keep turning America into a third-world country.
Record-high gas prices.
Wide open southern border.
Violent crime spiking.
This is NOT the American dream!
— Jim Bognet (@Bognet4congress) June 21, 2022
This is mainly due to the fact that should the suspension actually pass, the Highway Trust Fund is slated to lose at least $10 billion in foregone revenue.
The White House believes this can be easily circumvented by funneling money from other budget areas that have been exhibiting growth recently.
Biden also stated while the movie itself won’t fix the underlying issue, it’ll help ease the pressure on lower-income families, albeit at the cost of impacting highway funds.
BREAKING: @POTUS @JoeBiden will call on Congress on Wednesday to suspend the federal gas tax for three months and ask states to suspend their own gas taxes or provide comparable relief to consumers
— BNN 🇺🇸 Newsroom (@BNNUS) June 22, 2022
When he was asked whether he’d locked in his decision, Biden said he’s got by the end of the week to determine where he stands.
Although even then, the decisive factor lies in Congress and how willing they will be to sacrifice billions for a plan that might not even be as effective as initially presented.
Aside from roadside repairs, gas and fuel taxes help fund highway and other transportation projects across the US.
This might also come into play later if the federal government isn’t able to provide the funds needed for Biden’s infrastructure plan.