Copyright © Françoise Herrmann
The Gas Tax Holiday is a term coined recently in the press, in reference to an executive measure, set forth before Congress, whereby the consumer price of US gas would be reduced for three months, with a Federal tax cut of 18.4 cents. The Federal Government normally withholds 18.4 cents on every gallon of gas sold in the US, to fund highway and road projects.
Reference
Denning, L. (June 22, 2022). Biden’s gas tax holiday won’t save summer. Washington Post.
https://www.washingtonpost.com/business/energy/bidens-gas-tax-holiday-wont-save-summer/2022/06/22/98ff9ed6-f26b-11ec-ac16-8fbf7194cd78_story.html
Ferris, S. & A. Cancryn (June 21, 2022). Biden announces a likely doomed gas tax holiday. Politico
https://www.politico.com/news/2022/06/21/biden-gas-tax-holiday-00041244
Staff (June 22, 2022). US Senate No. 2 Republican says gas tax holiday ‘dead-on-arrival’. Reuters
https://www.reuters.com/business/energy/us-senates-no-2-republican-says-gas-tax-holiday-dead-arrival-2022-06-22/
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