Biden Calls for a Gas Tax Holiday

    Photo: CBS

    The Facts

    • On Wed., US Pres. Biden asked Congress to suspend federal gasoline and diesel taxes through the end of September, as a way of lowering gas prices for consumers.

    • The federal tax levied on gasoline currently sits at 18.34 cents a gallon, and is used to fund infrastructure like roads.

    The Spin

    Republican narrative

    Biden isn't doing anything to help the average American bear the financial burden of record-high gas prices. A gas tax holiday is more of a campaign gimmick than a concrete effort to lower gas prices. This proposal is dead on arrival.

    Democratic narrative

    Major oil companies are taking advantage of the war in Ukraine and are squeezing record high profit margins at the expense of American families. A federal gas tax holiday may not be the ideal solution, but immediate action must be taken to lower gas prices. This is a good first step.

    Nerd narrative

    There's a 50% chance that US crude oil production will reach 13 million barrels per day by September 29, 2023, according to the Metaculus prediction community.

    Public figures in this story

    Political split



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