Is gas tax holiday a terrible idea? This economist says yes A | N.S.A. (News|Stories|Analytics)

Is gas tax holiday a terrible idea? This economist says yes

A Northeastern expert believes that a three-month gas tax break, suggested by President Joe Biden, is a bad policy proposal amid an existential environmental crisis.

"The proposed gas tax holidays is a horrible idea," says Robert Triest, chair of the Department of Economics and a former vice president at the Federal Reserve Bank of Boston. "The only thing that I can think of in favor of the gas tax holiday is that, perhaps, [it] is good politically for the president. But I can think of nothing else to say in favor."

Triest listed three main reasons for his unfavorable assessment of the president's suggestion: Climate change; limited supply of refined petroleum products; and concern for infrastructure funding.

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