reporter: so he s going to be pushing for this three-month gags holiday, and basically that would mean a 90-day suspension of the federal gas tax. if you re wondering what that s going to save you when you re actually at the pump, right now the federal gas tax is about 18 cents for a regular gallon and 24 cents for a gallon of diesel fuel. so not really that big of a difference when you re looking at an average price of gas. it is getting close to $5. of course it topped $5 earlier this month. so that s been a big question for lawmakers because getting this done is not just something that the president can do on his own. yes, he s about to call for it any moment now. but it really requires an act of congress on capitol hill to actually get this passed. and you re already see something concern even from democrats in the president s own party about whether or not this would actually make that big of a difference, and if it s worth what it would do. one of those concerns has c
before the invasion began. and that was the fastest pace since february of 1982. it s gotten worse since then because we ve seen prices for gasoline, natural gas, go up. we ve seen food prices go up. so inflation was a big problem, it s gotten even bigger. clearly the white house is searching for solutions here. some of what we heard, right, one not likely to get through congress. two, if it gets through congress, it s going to have a minimal impact on your wallet. $2.70 every time you fill up your tank. not a big mover. then also, it could backfire by making demand worse, it s not going to address supply. it doesn t help the revenue situation. there s a lot of drawbacks there. all right. okay. on that note thanks, matt. jessica, matt, patrick, mark, thank you so much. the january 6th committee has never before seen footage that shows ivanka trump giving a contradictory view on her father s baseless claims of election fraud than the one she presented to lawmakers in closed
join brian in studio. ainsley, you ll be on assignment. i ll be on assignment. carley is filling in for me tomorrow. will, you ll be back? what will you wear? i ll lay it out tonight. i was begging for a compliment. bye, everyone. bill: higher and higher as we go. worse than expected numbers on inflation. prices rising the fastest rates in 40 years as you say good morning. you don t need us to tell you that. you look at your grocery bill. you look at what you put in your gas tank. bill hemmer, welcome to our show. dana: i m dana perino. america s newsroom. the new inflation number is the fastest since february of 1982 and americans appear to be blaming president biden. his real clear politics approval dipping below 40% for
time. sandra: you name it, chances are you re paying more for it. from gasoline and heating fuel to every day items. americans are dealing with run-away inflation with no end in sight. those inflation fears hitting stocks. the dow diving 526 points. i m sandra smith in for neil cavuto. this is your world. claudia cowan is at a supermarket in california where shoppers are not mincing words. hello, claudia. good afternoon as well, sandra. consumers are seeing higher prices. but not only that, lower inventory at markets like this in marin county, san francisco. inflation soared the past year to a new 40-year high. the labor department says consumer prices as you mentioned jumping 7.5% last month compared to january of 2021. the steepest year over year increase since february of 1982. fueled by shortages of supplies and workers, low interest rates and robust consumer spending and more spending out of washington
since february of 1982. it s a pretty simple formula actually. inflation goes up and the market comes right back down but today s 500-point drop on wall street doesn t begin to tell the whole story with experts calling in news that inflation checked in at a 40-year high, an economic blowout, the fed s worst nightmare. the fears of an 8% inflationary number coming next month. if you haven t personally gotten a pay raise of 8% or more in the last year, then democrats policies have given a pay cut. reporter: whether because of or despite politics, price increases have been widespread over the past year with energy up 27%, gasoline up 40%, food up 7%, used cars and trucks up 50 more than 40% with the average household now spending up to $250 more per month.