Virginia Gov. Youngkin pushes gas tax holiday as surging prices ‘steal America’s income’
Youngkin says ‘terrible’ Biden policy sapped US greatest advantage: energy independence
Virginia looks to halt state gas tax for one year
Virginia Republican Gov. Glenn Youngkin gives an update on the state's effort to alleviate surging oil prices.
Governor Glenn Youngkin is attempting to give Virginians’ wallets a tax break from record-high gas prices.
On "Mornings with Maria" Thursday, Gov. Youngkin detailed the "largest tax rebate in the history of Virginia," which includes nixing the state’s gas tax for one year.
"We're going to suspend the most recent increase in the gas tax, which is only making prices at the pump worse," Youngkin told FOX Business’ Maria Bartiromo. "As inflation steals America's income, we've got to get taxes down."
Global oil prices continued to rise Thursday morning with the average price for a gallon of gasoline in the U.S. reaching a new high of $4.31, according to AAA data. Virginia was also listed as one of the top 10 states seeing the largest weekly increase.
INFLATION RISES 7.9% IN FEBRUARY, A NEW 40-YEAR HIGH
"This is a big moment for us to recognize that the average American family is really, really hurting right now," Youngkin said.
While Youngkin noted legislators are "pressing hard" for the proposal currently in session, he isn’t the only state leader calling for a gas tax holiday. Georgia Republican Gov. Brian Kemp also announced intentions Wednesday to suspend the state’s excise tax on fuel.
Both governors put the blame for surging prices on President Joe Biden’s energy policies which prevent domestic drilling and oil sourcing.
"We've seen poor energy policy, terrible energy policy out of Washington, just fundamentally sap one of our great advantages as a nation, which is energy independence," Youngkin said.
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Inflation, Biden policy ‘steals America’s income’: Gov. Youngkin
Virginia Gov. Glenn Youngkin says the Biden administration has sapped the US’ greatest advantage: energy independence.
"President Biden took office in January of 2021, and to understand why we are in this current state of record-high inflation and costs to the average American family, people can simply track his first year of misguided policy decisions," Kemp added in his announcement.
But experts predict as Russia’s war on Ukraine prolongs, so will pain at the pump. Benchmark U.S. crude rose 4% Thursday as the market examines how to fill the supply gap caused by Biden’s sanctions on Russian oil imports.