The Biden administration is considering instituting a federal gas tax holiday as the average price of a regular gallon has soared above $5 — and the White House economic team could take up the matter later this week, according to a report. The administration is scrambling to come up with solutions to ease Americans’ pain at the pump with inflation hitting 40-year highs and Democrats fearing economic turmoil that would doom their chances in this fall’s midterm elections.“It’s definitely an option on the table,” a Democrat close to the White House told The Hill on Monday.
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