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What Is a Federal Gas Tax Holiday? And How Much Would You Save at the Pump?

What Is a Federal Gas Tax Holiday? And How Much Would You Save at the Pump? #Federal #Gas #Tax #Holiday #Save #Pump Welcome to Lopoid

By Veronica Dagher and Ayse KelceJune 23, 2022 5:30 am ET

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A federal gas tax holiday would aim to lower the cost of filling up your car. But politicians and economists are divided over how much help it would provide. 

President Biden has called for a three-month suspension of the federal gasoline tax, as consumers cope with near record prices at the pump. The tax holiday is intended to provide relief to millions of Americans by temporarily pausing the 18.4-cent tax on every gallon of gasoline. 

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