The Gas-Tax Holiday Is a Gimmick. Mr. Biden, Try These Ideas Instead.

Updated June 25, 2022 2:14 pm ET / Original June 24, 2022 7:31 pm ET

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U.S. President Joe Biden speaks about gas prices on June 22, 2022, in Washington. Drew Angerer/Getty Images

President Biden’s proposed gas-tax holiday is both a gimmick and dead on arrival. Yet, it is attracting inordinate attention across Washington and on Wall Street. There are viable ways to improve energy-price inflation, but they aren’t quick fixes. Nor are they politically comfortable.

Earlier this month, this column said that policy makers and politicians are unable to do much in the immediate term to alleviate inflation where it is hurting households and businesses most. Some readers disagreed. Given how politics has infiltrated economics this week, from gas-tax-holiday talk to Federal Reserve Chairman Jerome Powell’s semi-annual testimony before Congress, Barron’s looked for policy ideas that could both help consumers and pass a gridlocked Congress.

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