Gas Tax Holiday

Here’s what it could mean for your wallet if federal or state government temporarily suspend taxes at the pump.

As President Joe Biden pushes for a federal gas tax holiday, Massachusetts lawmakers are pondering state action.

Here in Massachusetts, lawmakers already backed off from suspending the 24-cent per gallon state tax, something Mark Schieldrop with AAA Northeast explained.

At issue is the 18.4 cents-a-gallon federal tax on gas and the 24.4 cents-a-gallon federal tax on diesel fuel. President Joe Biden is also calling on states to suspend their gas taxes and retailors to immediately lower their prices to reflect the savings. And he’s pushing the oil industry to step up supply. For many, it would be welcome relief...

Though gas prices have dipped ever so slightly over the last week, President Biden is still weighing asking Congress for a Gas Tax Holiday to provide drivers even more relief at the pump.

A move to suspend the federal gas tax could provide some relief at the pump. The average price of a gallon regular dropped below $5 here in Massachusetts overnight. It’s actually been falling in the last week or so. Last weekend, President Biden said he’s thinking about asking Congress to suspend the federal gas tax with families gearing up...