With the average national gas price at $4.25 heading into the weekend, a modest decline from last Monday’s $4.32, the US federal government scrapped a proposal to issue Americans gas cards to offset high pump costs. The IRS would have distributed gas cards to taxpayers under the proposal.
House Democrats, on the other hand, told Axios.com that the plan was “expensive” and “inadequately targeted.” Additionally, it would strain the IRS’s resources during tax season, which could result in delayed refunds. Tax refund checks may do more to assist Americans in meeting their fundamental requirements and covering growing prices.
Additionally, delivering stimulus cash in the form of gas cards could exacerbate inflation and would do little to address the underlying issue of rising gasoline costs.
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“It is not an administratively possible solution, and the Biden administration is not seriously exploring it as a way to assist American families,” White House spokesman Vedant Patel told Axios.
Other options for lowering gas costs include raising the ethanol component of gasoline to offset the loss of Russian oil, postponing the federal gas tax until 2022, and urging other nations’ oil producers to ramp up output to compensate for the loss of Russian oil.
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Additionally, some politicians have advocated a federal rebate when gasoline prices exceed $4 per gallon.
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Meanwhile, over 20 states are considering offering drivers a gas tax vacation, waiving state gas taxes for ranging from 30 days to a full year or more.
