President Joe Biden is proposing a moratorium on the federal gas tax in hopes of saving cash strapped consumers from having to pay so much at the pump.
The three month tax holiday President Biden proposed to Congress would allow drivers to save 18.4 cents per gallon (24 cents per gallon for diesel), according to Sourcing Journal. President Biden has also called upon states to curtail their individual surcharges for the summer. State surcharges on gas average between 30 and 35 cents. Analysts say that every cent added or removed from gas prices impacts consumer spending $1.28 billion, in either direction, over a single year.
