A bill that passed the House on Wednesday, which still needs a vote in the Senate, is meant to prevent a freight shutdown that would cost the U.S. an estimated $2 billion per day.
Even if Congress was in a mood to cooperate with Biden’s plan, most studies show that only a small portion of the savings from halting the tax would make its way to consumers.
Pausing the 18.4 cents-per-gallon federal gasoline tax won't save consumers much, but it'll cost President Joe Biden's signature infrastructure law a lot.