Congress Considers Suspension of Federal Gas Tax Amid Rising Prices

The average gas price in the U.S. has risen from under $3 to nearly $4.50 since February, prompting Congress to consider suspending the federal gas tax of 18.4 cents per gallon. While some lawmakers support this measure, key opposition exists, reflecting the gas tax's declining significance. The Highway Trust Fund faces a projected shortfall of $294 billion over the next decade, leading to discussions about alternative funding solutions for infrastructure.