Posted on 06/22/2022 5:48:18 AM PDT by conservative98
The federal government currently charges 18 cents in taxes per gallon of gasoline
[cut]
Biden's ex-boss, former President Barack Obama, called a gas tax a "gimmick" on the campaign trail back in 2008. At the time Obama said a gas tax holiday was a "gimmick" to save Americans half a tank of gas over the summer so that lawmakers could "say that they did something."
There is also concern about a gas tax holiday's impact on already record-high inflation. The Committee for a Responsible Federal Budget, a non-partisan group that advocates for reducing the federal budget, previously argued that suspending the tax for a 10-month period could actually increase demand for gasoline and other goods and services when the economy is already confronting high consumer demand and pandemic-induced supply chain disruptions.
"While the gas tax holiday may reduce prices at the pump, it will further increase demand for gasoline and other goods and services at a time when the economy has little capacity to absorb it," the blog post said. "The result could be even higher rates of inflation in 2023."
(Excerpt) Read more at foxbusiness.com ...
Wow so the tax comes back just as elections get close.
Geez this guy Biden is a real idiot.
This TOTALLY isn’t pandering for votes from low-information voters. Neither is the student loan forgiveness.
This gas tax will make all the difference! Praise God!
LOL - you could raise the tax by $1.00 and it would still be cheaper under better energy policies.
If spending isn’t cut this could actually *increase* inflation by having to print more money due to the loss of revenue.
Thanks Big Guy—will the tax break be accompanied by another china virus? democRATs need the votes.
Biden gas tax gimmick fail: the problem’s not the 18 cents, it’s the $2.00 hike since last year. While oil price is global, US can impact expectations with much more drilling and pipelines. https://t.co/lyQRtYGtSS— Senator Mitt Romney (@SenatorRomney) June 22, 2022
And the $1.40 before that, Mitt. Gas is up $3.40 since Biden took office.
🤦♂️
This has to be the biggest since there ever was!
What a 🤡 show we’ve become!
they’ll tax us someplace else to make it up...it is not free
DOA
.
What a Joke!
.
I thought Carter was the worst POTUS of my lifetime.
At least he taught Sunday school and was a clueless liberal. He was a veteran and has gone on to do volunteer work.
But he was terrible.
Joe has surpassed Carter. He’s also just a scumbag as a human being. He and his entire family. Awful.
A temporary gas tax holiday is a gimmick.
A one-time gas rebate is a gimmick.
Missourians want President Trump's energy policies back.— Eric Greitens (@EricGreitens) June 22, 2022
Candidate Obama called a gas tax holiday a "gimmick" in 2008.
14 years later, Obama's former VP is pushing for a gas tax holiday.
Mark Zandi tells me he's "not a fan" because tax holiday would support demand and could even be inflationary. https://t.co/f0IVFPoOdE— Matt Egan (@MattEganCNN) June 22, 2022
Even CNN says - gimmick.
If it was state tax on gas you might be talking. Wasn’t that long ago NJ ADDED 23 cents per gallon on gas.
Carter was a good fellow, but was way over his head in the White House.
Biden is out to lunch and gets pushed around by who ever wants to push him around. He has no clue what day it is.
Without the funds from those taxes, the Feds will postpone infrastructure work and be forced to pay more for it later.
Gasoline is already down $0.44 from its peak spot price.
I'll go waaaaaay out on a limb predict that the Cargo-Cultists of the Biden administration will take credit, and ignore the recession that they caused.
quid pro quo - gas tax for pipe lines and opening wells. Don’t give without getting.
Obama is right about this gas tax relief being just a gimmick. Most people might take advantage of it, but still realize it’s no answer. It seems to me that if Biden knew how to ruin the economy then he should know how to get it started again. If not, he can go online, refer to FR & find all he needs to know. Just NOT listening to some/most of the paid idiot advisers he has around him might help a lot.
This makes no financial sense at all.
I will predict if they do this that the price of a gallon of gas will not change. The dealers will not lower their price.
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