The move is meant to help consumers at a time of sky-high inflation and gas prices -- and to help the president's political standing. But it's already being met with skepticism.
— President Joe Biden called on Congress Wednesday to suspend federal gasoline and diesel taxes for three months — a move meant to ease financial pressures at the pump that also reveals the political toxicity of high gas prices in an election year.
In announcing the move, the White House said,"The price of gas is up dramatically around the world, and by almost $2 per gallon in America, since Putin began amassing troops on the border of Ukraine." But many economists and lawmakers from both parties view the idea of a gas tax holiday with skepticism.
High gas prices pose a fundamental threat to Mr. Biden's electoral and policy ambitions. They've caused confidence in the economy to slump to lows that bode poorly for defending Democratic control of the House and the Senate in November.
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