President JoeBiden and congressional Democrats are being implored to let market forces bring down fuel prices despite Republican-led states such as Georgia and Maryland introducing gas tax holidays.
The prospect of exacerbating inflation is only one reason Democrats should not implement a federal gas tax holiday, according to American Enterprise Institute senior tax policy fellow Kyle Pomerleau.
"The gas tax, if I'm correct here, is about 18 cents," she told reporters of the levy that has not changed since 1993."Obviously, gas has gone up by a larger amount than that." With limited short-term responses other than potentially an expensive rebate, the White House has promoted longer-term consumer behavior shifts, including people buying electric vehicles. But not everyone can afford to purchase an EV, and the country is ill-prepared for a large fleet, according to Nellenbach.
"Politics and economics don't always jibe," he said."My punchline is don't expect this to win the day on the politics."
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