Democrats' proposed gas tax holiday would save Americans 18 cents per gallon

Democratic lawmakers are expected to discuss suspending the federal gas tax for the rest of the year at a lunch Tuesday, The Washington Post reported.

The White House did note explicitly endorse the proposal but said "all options are on the table."

Sens. Mark Kelly (D-Ariz.) and Maggie Hassan (D-N.H.) proposed the bill, while Sens. Debbie Stabenow (D-Mich.), Catherine Cortez Masto (D-Nev.), Raphael Warnock (D-Ga.) and Jacky Rosen (D-Nev.) offered their support. All six are up for election in 2022.

The tax holiday, which would reduce prices at the pump by around 18 cents per gallon, could help alleviate voters' concerns about pocketbook issues and boost Democrats' flagging poll numbers ahead of the midterms.

In November, President Biden released 50 million barrels of oil from the country's strategic reserves, but this was a largely symbolic gesture that barely affected gas prices, Business Insider reported. When the Democratic Congressional Campaign Committee tweeted a misleading chart that presented a two-cent drop as a major victory, the response was widespread derision.

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— Greg Price (@greg_price11) December 2, 2021

White House Press Secretary Jen Psaki said last week the Biden administration is considering additional releases from strategic reserves to help reduce gas prices, Reuters reported.