Biden’s proposed federal tax cut on gas could cost dearly in the future

Experts warn cutting the 18 cents will take a toll on highway upkeep and cause prices to rise further when the holiday ends

America's hard-pressed drivers may be about to receive a holiday. On Wednesday Joe Biden called on Congress to suspend the federal tax on gas and diesel until September as the country struggles with soaraway costs at the pump. But experts warned the tax holiday is unlikely to have a major impact on prices and will probably further harm the US's already battered roads and bridges. If the tax cut even gets passed.

Blaming Russia's invasion of Ukraine for the surge in gas prices Biden proposed cutting the 18-cents-a-gallon federal taxes on fuel until September and called on states to cut their gas taxes too. Together, these actions could help drop the price at the pump by up to $1 a gallon or more. It doesn't reduce all the pain, but it will be a big help," said Biden.