Federal gas tax holiday a mistake
America’s motorists and commercial drivers do not need the three-month federal gasoline and diesel taxes “holiday” proposed by President Joe Biden. The short tax reprieve could do more harm than good. It is not difficult to understand why. The price of fuel is built on supply and demand. Generally, if there is a decline in supply, the price increases, encouraging motorists to conserve. If demand decreases significantly, the price, under normal economic circumstances, drops. With gasoline prices hovering at just below, at or slightly above $5 a gallon, the 18-cent-a-gallon ...