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The original item was published from 6/29/2022 2:04:42 PM to 1/1/2023 12:00:19 AM.

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Federal Government

Posted on: June 29, 2022

[ARCHIVED] President Biden Proposes Federal Fuel Tax Holiday

As a measure to reduce increasing costs as well as to mitigate the supply chain issues regarding Russia’s invasion of Ukraine, President Joe Biden called on Congress to suspend the federal gas tax for 90 days. Pausing the 18.4 cents per gallon gasoline and 24 cents diesel federal tax during the busy summer travel season requires congressional action.
  
 The proposal has met with public resistance in both chambers and both political parties for a variety of reasons including an estimated cost of $10 billion to the Highway Trust Fund and the view that it would not save a significant amount of money.
  
In addition, President Biden has urged states to suspend their gas taxes for the summer travel season or offer residents a gas tax rebate. Public reports indicate that suspending New Jersey’s 42-cent a gallon gas tax is unlikely.
  
Contact: Paul Penna, Senior Legislative Analyst, ppenna@njlm.org, 609-695-3481, x110.

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