ST. LOUIS – How much gas is saved usually depends on how much driving is done.
Driving a Toyota Camry from empty will save a driver just under $3 a tank. In a pickup truck, it would be around $4.75. That has many lawmakers asking if the plan is worth it.
Right now, there are record-setting gas prices nationwide. President Joe Biden is asking Congress to remove the federal fuel tax through September. He wants to do this without taking money from the highway trust fund. However, suspending the federal gas tax would cost $10 billion in revenue which is generally used for highway maintenance.
The National Association of Manufacturers said it’s a step backward after the bipartisan infrastructure law Biden passed. The president said removing the federal gas tax would lower prices by 18.3 cents per gallon of regular gas and 24.3 cents for diesel fuel. The president also said a federal gas tax holiday alone won’t stop soaring gas prices.
“I call on the companies to pass this along, Biden said.” “Every penny of this 18 cents reduction to the consumers. There is no time now for profiteering.”
So far there’s no indication of how Congress will move forward with the proposal.