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West Virginia leaders weigh in on federal gas tax holiday proposal

By Steven Allen Adams, The Parkersburg News and Sentinel

CHARLESTON, W.Va. — U.S. Sen. Joe Manchin, U.S. Sen. Shelley Moore Capito, and Gov. Jim Justice all were skeptical that a three-month federal gas tax proposed by President Joe Biden would have a long-term effect on gas prices.

The White House announced Wednesday a three-month freeze of the federal gas tax beginning in July and ending in September. The tax is 18 cents per gallon of gasoline and 24 cents per gallon of diesel fuel.

Revenues from the federal gas tax go into the Highway Trust Fund. According to the White House, Biden believes that $10 billion in additional federal dollars can be diverted to keep the Highway Trust Fund whole during the three-month holiday.

The Biden administration placed the blame for higher gas prices on the Russian war on Ukraine driving up the cost of crude oil prices. According to MarketWatch, crude oil prices Wednesday afternoon sat at around $106 per barrel…

To read more: https://www.newsandsentinel.com/news/business/2022/06/west-virginia-leaders-weigh-in-on-federal-gas-tax-holiday-idea/

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