Breakingviews - Gas tax holiday accomplishes little, costs a lot

Joe Biden’s call to suspend U.S. federal gas taxes will shave some cents off costs at the pump. But it's regressive, works against long-term goals to reduce fossil fuel use and could even stoke inflation: rob_cyran

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Biden came to office in 2021 promising a clean-energy revolution. Yet shielding consumers, especially well-off ones, from high gas prices prolongs the shift in demand away from polluting fossil fuels. Higher gas prices help nudge the marginal traveler into considering mass transit, or an electric or more efficient vehicle. In the short term, more demand for gas – because it’s slightly cheaper – could create upward pressure on the prices producers charge.

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