President Joe Biden’s call for Congress to suspend the federal gasoline tax for three months may be good public relations for the deeply unpopular leader but in reality, even if lawmakers agree, it will have virtually no impact in providing significant relief to Americans who are reeling from record prices at the pump.
According to an analysis by the University of Pennsylvania’s Wharton School of business, the savings that drivers could expect to see are paltry, averaging $4.79 to $14.31 for the months of July through September, a meager number that serves as an exclamation point on how far out of touch that the cultural elite narrative engineers and policymakers in the White House are with the very real struggles of ordinary Americans.
During a Wednesday speech when Biden once again blamed gas prices on “Putin’s price hike,” a constantly repeated talking point that has done little to convince most Americans that the fault lies anywhere other than at 1600 Pennsylvania Ave. NW, dear leader called for a pause in the gas tax for the summer driving season to “give families just a little bit of relief.”
Pres. Biden asked Congress to drop the 18-cent federal gas tax for three months while calling on companies to pass on savings and states to suspend their own gas taxes to further bring down prices. Here's what that could mean at the pump: https://t.co/3exEQtPIk7 pic.twitter.com/vboznSPqJb
— NewsNation (@NewsNation) June 22, 2022
However, the devil is in the details about that “little bit of relief” that Biden spoke of which is well, really little.
“We estimate that suspending the federal excise tax on gasoline from July to September this year would lower average gasoline spending per capita by between $4.79 and $14.31 over three months, depending on geographic location and modeling assumptions, and lower federal tax revenue by about $6 billion during that period,” the Wharton school wrote in a summary of its findings.
As of Saturday, the average price per gallon nationally is 4.908 according to AAA which tracks gas prices.
Last year, the White House drew ridicule and mockery by touting that Biden’s wondrous economic policies had delivered a whopping 16 cent savings on a Fourth of July BBQ cookout from when former President Donald J. Trump was calling the shots.
Planning a cookout this year? Ketchup on the news. According to the Farm Bureau, the cost of a 4th of July BBQ is down from last year. It’s a fact you must-hear(d). Hot dog, the Biden economic plan is working. And that’s something we can all relish. pic.twitter.com/7h9qLauIbC
— The White House (@WhiteHouse) July 1, 2021
The White House has not yet released its estimate of savings on a similar cookout this year over 2021, and with inflation at its highest level in four decades under Biden’s stewardship of the economy, it may be wise not to avoid drawing additional attention to the most destructive regime in the nation’s history.
Congressional Democrats have been cool to the idea of suspending the gas tax for three months. Speaker Nancy Pelosi expressed little enthusiasm after Biden’s speech, instead, she blamed it on greedy oil companies and Putin.
Pelosi declines to support Biden’s gas tax holiday proposal https://t.co/j66DoSoVn8
— Conservative News (@BIZPACReview) June 23, 2022
“Democrats are united in our determination to lower gas prices for families at the pump. It is unacceptable that American families are being squeezed at the pump while Big Oil rakes in massive profits at their expense in the middle of Putin’s War,” she wrote in a Wednesday statement.
“While President Biden has taken strong action to combat Putin’s Price Hike with his executive authority such as historic releases from the Strategic Petroleum Reserve and expanding access to homegrown Unleaded 88/E-15, Republicans in Congress have consistently chosen to enable Big Oil’s outrageous profiteering on the backs of hard-working Americans,” added Madame Speaker.
Democrats are hoping that Friday’s historic Supreme Court ruling that overturned Roe v. Wade will shift public attention away from their own economic woes to fighting for the right to preempt the lives of the unborn but, according to a new poll, Americans are still far more concerned with the issues that directly affect them, primarily gas prices.
As James Carville famously put it when he engineered Bill Clinton’s 1992 White House campaign, “It’s the economy, stupid,” words of wisdom that are completely lost on the modern incarnation of the Democratic Party.
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