Making Ends Meet: gas tax holiday could save you money at the pump

By Kerry O’Connor

(CBS4)– President Joe Biden is calling on Congress to suspend federal gasoline and diesel taxes for three months. It is in the hope to save people money at the pump as gas prices continue to hit daily record highs.

(credit: CBS)

A CBS News article states the president is also urging states to suspend their own gas taxes that add an average 30 cents on the gallon. As of June 22, Colorado’s average price at the pump is $4.91 while the national average is $4.95.

Gov. Jared Polis says he commends the President’s action to provide relief and save people money. Polis has already signed off on a landmark transportation funding bill that slightly cuts taxes on gas in Colorado and saves people roughly two cents per gallon of gas.

Polis said in a statement regarding the federal gas tax holiday, “This should fly through Congress and I would dare anyone to oppose suspending a 22-cent tax for three months that will provide some immediately relief at the pump.”