EXPLAINER: How Biden’s proposed gas tax holiday would work

EXPLAINER: How Biden’s proposed gas tax holiday would work

President Joe Biden speaks about gas prices in the South Court Auditorium on the White House campus, Wednesday, June 22, 2022, in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) — Facing stubbornly high gas prices that average about $5 a gallon nationwide, President Joe Biden has urged Congress to suspend federal gasoline and diesel taxes for three months. If savings from the 18.4 cents-a-gallon federal tax on gas are fully passed along to consumers, drivers would save about $2.76 for a 15-gallon fill-up. It’s unclear, though, if Biden can push his proposal through Congress, where lawmakers, including some Democrats, are skeptical or even opposed to the idea. Many economists also are wary of a gas tax holiday.

Photo: President Joe Biden speaks about gas prices in the South Court Auditorium on the White House campus, Wednesday, June 22, 2022, in Washington. (AP Photo/Evan Vucci)