US gas tax holiday is “worth considering,” Yellen says – Axios

A federal gas tax holiday to ameliorate the burden of soaring gas prices across the nation is an idea “certainly worth considering,” Treasury Secretary Janet Yellen told ABC’s “This Week” on Sunday.

Driving the news: The national average price for regular gasoline spiked to a never-before-seen $5 per gallon earlier this month as the country grapples with decades-high inflation.

What they’re saying: Asked by host George Stephanopoulos whether a gas tax holiday was a possible short-term solution, Yellen replied, “President Biden wants to do anything he possibly can to help consumers. Gas prices have risen a great deal and it’s clearly burdening households.”

• “So he stands ready to work with Congress and that’s an idea that certainly worth considering,” she added.
• Yellen called the current rate of inflation “unacceptably high” but echoed Biden’s assessment of a potential recession by saying “I don’t think a recession is inevitable.”

Energy Secretary Jennifer Granholm told CNN’s…

Read Full Story: https://www.axios.com/2022/06/19/yellen-gas-tax-holiday

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