Young: Gas Tax Holiday Like “Applying a Band-Aid to Gaping Wound”

WASHINGTON – U.S. Senator Todd Young (R-Ind.), a member of the Senate Finance Committee, today issued the following statement regarding President Biden’s call for a three-month federal gas tax holiday:

“President Biden’s proposal is like applying a band-aid to a gaping wound. A gas tax holiday would have a very short-term impact without actually increasing our energy supply. Consumers will respond by purchasing more gasoline, which will cause prices to rise, and ultimately there will be little benefit to families struggling with high fuel costs.

“The real solution to lower gas prices for Hoosier families is to increase oil supply right now and encourage domestic energy production for the future. The Biden Administration needs to turn away from its ideological green agenda and support policies that unleash American energy production.”