Fox News Finds No Upside to Biden’s Proposed Gas Tax Holiday: ‘Economics 101, It Just Doesn’t Work’

Fox News, in its analysis of President Joe Biden’s proposed gas tax holiday, found no upside to a modest and temporary curtailing of prices at the pump.

Biden spoke a the White House Wednesday, where he called on Congress to pass a three-month moratorium on the federal gas tax. He also called on states to adopt similar measures.

Suspending the tax would save Americans roughly $0.18 per gallon.

On America Reports, Fox News reporter Grady Trimble noted a tax freeze would result in trivial savings for people filling up their tanks.

Trimble noted for people who drive a car similar to a Toyota Camry, savings on a tank of gas would be less than $3 a gallon. Meanwhile, he noted for a vehicle like a Ford F-150, savings would be less than $5.00 per tank.

He added he had spoken with Patrick De Haan of GasBuddy, who noted he was “worried” a gas tax “could drive demand up at a time when supply is low.”

De Haan added, “It could also push prices up more down the road should there be any disunion to supply.”

Trimble also spoke to drivers in Chicago who said suspending the tax would not be enough to help them compensate for the surging prices of fuel.

In her analysis of the Biden proposal, cohost Sandra Smith dismissed the potential a gas tax holiday would have any meaningful impact on cash-strapped Americans.

Cohost John Roberts noted a state gas tax suspension in Maryland brought prices down.

“And then you buy more and the price goes back up and you eventually pay for it,” she said. She added:

Everything that the president just laid out, you have to remember, it does not change the supply situation. So if you are not increasing supply and all this eventually does is keep demand where it is, or increase that demand by making it cheaper, Economics 101, it just doesn’t work.

Watch above, via Fox News.