Joe Biden to the rescue? Five days after falling off his bike during a low-speed ride at his vacation home, the President is rolling out his financial band-aid for Americans getting caused at the fuel pump. He reportedly will call on Congress to suspend federal gas and diesel taxes for three months.
He also wants individual states to suspend their taxes on gas and diesel too.
Most informed people understand this is a gimmick, and Biden’s old boss, Barack Obama, even said the same thing back in 2008 when he was running for President and used that exact word, “gimmick.” Obama said it allows politicians to say they did something.
Apparently, Biden believes the average American’s memory is as bad as his.
Part of the reason those numbers at the gas station are so astronomical is the 18.4 cents a gallon the federal government puts on it. It’s even worse for truckers, who face a 24.4 cents-a-gallon tax on diesel, which is a significant part of the supply chain problem in the country right now.
Biden has had other low-impact ideas to try to corral gas prices. He demanded the release of oil from the U.S. strategic reserve. That did next to nothing.
Biden knows his political future is in the balance, and Americans are fed up with the higher costs of everything since “the Big Guy” took over in 2021. Here’s what he told the Associated Press in an interview recently.
“If you notice, until gas prices started going up. things were much more; they were much more optimistic.”
Those days are done, and it might behoove the President to devise a more substantial plan because even House Speaker and BFF Nancy Pelosi doesn’t think suspending the gas tax will do anything.