moments ago a major announcement from the white house. president biden calling for a temporary suspension of the 18 cents per gallon federal gas tax. here now cnn chief business correspondent christine romans. we thought this was coming but this is a big move attempt by the white house. he needs congress to get on board but this is the white house saying they want to give americans some breathing room, that s how they call it. a three-month suspension of that gas tax. it s 18.4 cents a gallon. the white house also calling on the states to do what they can to try to lower their gas taxes. on average 30 cents per gallon ranges everywhere from 10 to above 50 cents, 60 cents, but that s where the white house is. talking about the breathing room, a little extra breathing room. acknowledging it s not going to fix the fundamental problem of overall high gas prices but it gives people some space. here are the numbers from overnight, $4.96 a gallon, still
that seems political suicide to me. it does and it is. this is part of a shameless and affectless operation. it is his energy policies which have as their intended outcome driving up costs in fossil fuels, safe, affordable, reliable and in america plentiful fossil fuels to transition into other foreign-made sources of energy that can t easily be transferred into automobiles. this is a big problem. so he is wanting us to cover that up by shifting around some tax revenue. number one a drop in the bucket. wouldn t really offer meaningful relief. one of my colleagues just noted 6% of the increase in the price of fuel is represented by the 18.4% federal gas tax. this is a disaster all the way around and he wants us to cover it up. harris: you know, i wonder,
then candidate biden pledging to end drilling during a debate. number one, no more subsidies for fossil fuel industry. no more drilling on federal lands. no more drilling, including offshore. no ability for the oil industry to continue to drill, period, ends. sandra: senator, should anyone in the country be surprised why gas prices are where they are today. no one should be surprised. joe biden said what he was going to do, day one ending of the keystone pipeline then ended fracking, alaska off line, offshore off line, he said he was going to end oil and gas in the country. i agree with obama, this is a gimmick, 18.4 cents on the gas tax, removing that, this is such an odd move for the guy who said i m going to be the
the sidelines to start meeting demand and gas prices will start coming down. bret: well, the gas tax holiday, the federal gas tax holiday being proposed by president biden a lukewarm reaction on capitol hill and even former obama economic advisers are not really keen on it jason fuhrman is the former chair of president obama s counsel of economic advisers tweeting out whatever you thought of the merits of a gas tax in february is a worse idea now. refineries are constrained now so supplies elastic most of the 18.4 cents reduction would be pocketed by industry, with maybe a few cents passed on by consumers. with that, bring in our panel. juan williams is a fox news analyst. katie pavlich news editor at town hall.com and former education secretary bill bennett. what about this, bill, and what the administration is trying to do here? well, they have little is
morning and there is nothing inevitable about recessions. the economy faces 40 your high inflation including food and travel especially energy. aaa says that the average cost of a gallon of gas is it just shy of $5 a gallon. up from about $3 a year ago. the president says he s considering supporting a positive 18.4 cents a gallon federal gas tax. there is opposition. they say it s too small to make much of a difference in would rob funding from infrastructure. it s been a substantial burden on americans households and i think why not perfect, it should be something under consideration as a policy to address at. senate minority leader mitch mcconnell accused democrats of playing political games with a gas tax. head of the midterm elections i the presidents electoral two years later republicans across the country are hammering