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ACEC Releases Statement in Opposition to President Biden’s Proposed “Gas Tax Holiday”
Washington, D.C. — The American Council of Engineering Companies (ACEC), the business voice of America’s engineering industry, released the following statement in opposition to the Biden Administration’s consideration of a temporary “gas tax holiday”:
“There are several initiatives the Administration could take to provide very meaningful and long-term relief for consumers facing rising gas prices but suspending the federal gas tax is not one of them. The minimal relief from a gas tax holiday will be temporary and such action will undercut the new infrastructure program that will play such a critical role in restoring economic growth. What’s needed is increased refining capacity and new sources of oil from North America, which will provide long-term relief and maintain the bridge we need as the energy economy continues its transition to renewable sources of energy.
“We are also concerned where the ‘other revenues’ could be found to offset any proposed ‘holiday.’ There is already a user fee that provides a dedicated stream of revenue, and we oppose any attempts to further erode confidence in the Highway Trust Fund.”
ACEC joined with the US Chamber of Commerce and a coalition of business and labor organizations strongly urging President Biden to reject any initiative to temporarily suspend the gas tax. Read the letter here.
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