NEW: President Biden Calls for Gas Tax Suspension to Ease Pain at the Pump for American Families

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President Biden continues to take action to lower gas prices, while the MAGA party wants to raise taxes and costs for families

WASHINGTON, D.C. — Today, President Biden is calling on Congress to suspend the federal gas tax for three months to lessen the pain families are feeling at the pump, one of many steps he has taken in recent months to blunt the impact of Putin’s price hike and lower gas prices. He’s asking states to suspend gas taxes or provide rebates to residents, and calling on gas companies to bring down prices as the cost of oil drops – instead of price-gouging to rake in historic profits. The president committed to signing a gas tax suspension into law if Congress sends it to his desk, and urged lawmakers to take swift action to provide this relief to families.

Today’s announcement builds on previous actions President Biden has taken to lower gas prices, including authorizing the unprecedented release of one million barrels of oil per day from the U.S. Strategic Petroleum Reserves.

“President Biden knows that families are feeling the pain of inflation in their daily lives, including at the gas pump, and he’s using every tool at his disposal to bring down prices,” said Building Back Together Executive Director Danielle Melfi. “The Biden-Harris Administration continues to work tirelessly to accelerate domestic energy production and fast-track our transition to clean energy in order to increase America’s energy security and reduce our dependence on foreign oil. President Biden hasn’t stopped fighting for his plan to cut the cost of essentials for families – and today, he called on Congress, state officials, and oil companies to do their part to lower gas prices. The president knows the MAGA approach, which would raise taxes and costs for working families, is the wrong path forward, and he continues to fight for his plan to lower prices.”

President Biden has already taken significant actions to lower gas prices across the country:

  • The President has directed the release of a million barrels of oil each day from the Strategic Petroleum Reserve – the largest release in history.
  • President Biden has also taken steps to investigate price gouging by oil companies to ensure corporations don’t take advantage of consumers while raking in record profits for themselves.
  • The Biden-Harris Administration continues to work to accelerate domestic energy production and fast-track our transition to a clean energy future to bring down prices for families.
  • Today’s announcement demonstrates President Biden’s steadfast commitment to lowering energy prices for families using every tool at his disposal — he’s ready to sign legislation from Congress to suspend the federal gas tax for three months, through September.

President Biden is also fighting for his plan to lower the cost of everyday essentials.

  • President Biden’s plans will cut costs for American families, and are fully paid for by making sure that the ultra wealthy and big corporations pay their fair share in taxes.
  • His plan lowers the cost of housing, health care and prescription drugs, energy bills, child care and elder care, and more.
  • Republicans in Congress continue to oppose these critical measures to bring down costs for everyday families.

While President Biden is fighting to build our economy from the bottom up and the middle out, the MAGA agenda means raising taxes for small business owners, threatening Social Security and Medicare, and hiking the cost of essentials like prescription drugs.

  • The MAGA agenda would raise taxes on middle class families – including on half of small business owners.
  • MAGA extremists also oppose President Biden’s fully-paid-for plan to cut costs for American families – after having voted for the previous administration’s tax giveaway, which gives 83% of benefits to the top 1%.
  • The dangerous MAGA agenda would raise costs for families, threaten our economic recovery, and weaken the middle class.
  • President Biden has a very different approach, one that will build on our historic recovery and put more money in the pockets of working class Americans.

Today’s announcement from President Biden builds on his previous actions to tackle inflation across the country. He’s made it clear that he will do whatever it takes to lower costs and stand up for working families.