(TheLibertyRevolution.com)- Last week, President Biden called on Congress to pass a three-month federal gas tax holiday and urged states to do the same on the state level. The president claimed that suspending the federal gas tax would save consumers 18 cents a gallon. However, most economists are warning that the president’s plan won’t work according to plan.
On Fox’s “America Reports,” Fox reporter Grady Trimble investigated whether Biden’s gas tax holiday will accomplish what he thinks it will. According to Trimble, the so-called “savings” would be trivial, with small-size vehicles saving less than $3 a tank while large-size vehicles would only save less than $5.
What’s more, lowering the price through a gas tax holiday would only boost demand at a time when supply is already low. And when supply is low and demand is high, the result is higher prices. So while the gas tax may save 18 cents a gallon, the high demand could have consumers paying more per gallon even with the tax holiday.
This is a problem with most Democrat “solutions.” They invariably do nothing to solve the initial problem. Instead, their solutions create even more problems.
Until the White House does an about-face on domestic energy production, this 90-day gas tax holiday would be nothing more than another gimmick intended to give consumers the impression that this administration is “doing something.”
It’s no different from Biden’s repeated release of oil from the Strategic Petroleum Reserves.
Nothing this administration is doing will result in long-term relief. So long as they remain committed to their unsustainable “green energy” goals, Americans will continue to suffer at the pump.
It is unlikely Congress will take up the president’s call as lawmakers from both parties largely oppose the gas tax holiday gimmick.
Watch the segment from “America Reports” HERE.